Aragon Holdings Expands Multifamily Portfolio with $100+ Million Purchase of Denver and Orlando Properties
- Aug 27, 2014
By Ioana Neamt, Associate Editor
Los Angeles-based Aragon Holdings recently announced the acquisition of two residential properties in the Denver and Orlando areas, at a cost of over $100 million. According to a news release, the purchase was made through the company’s private equity fund, Aragon Multi-Family Cash Flow Fund III, with financing provided by Freddie Mac.
The two residential properties acquired by Aragon Holdings include a total of 850 apartment units, bringing the company’s national multifamily portfolio to nearly 10,000 units.
“Our existing properties in both the Denver and Orlando markets have performed extremely well for Aragon, and we are pleased to expand our portfolio in cities that have solid track records for outperforming the national economy in terms of both job and population growth,” says Dan Guy, president of Aragon Holdings. “These standards are used for all of our multi-family acquisitions, as we continue to pursue multi-family acquisition opportunities nationwide.”
Signal Pointe Apartment Homes in Orlando is comprised of 368 apartment units, located in the suburban city of Winter Park, Fl. The property underwent a $15.5 million renovation in 2009, and features three swimming pools, two tennis courts, a business center, fitness center, a golf simulator and a dog park.
Waterfield Court Luxury Apartments is located at 3499 S. Uravan Way in Aurora, Co. and is the fourth property purchased by Aragon Holdings in the Denver metropolitan area. The three-story building totals 482 apartment units and was completed in 1996.
Waterfield Court is in close proximity to the Denver metro area, providing easy access to I-225 and E-470. Additionally, the residential community is located near middle and elementary schools, shopping and leisure destinations, and Cherry Creek State Park and Reservoir. Amenities include a fitness center, basketball court, indoor spa, two swimming pools, air conditioning, and a clubhouse. The property features one- and two-bedroom apartments and is pet-friendly.
Image courtesy of Apartment Home Living