The Apartments at Denver Place Acquired by Waterton Associates
- Sep 10, 2014
Chicago-based Waterton Associates LLC recently revealed that it has purchased The Apartments at Denver Place, a 193-unit apartment community in downtown Denver. The 38-story skyscraper houses Denver’s only Ritz-Carlton hotel on its first 14 floors and is part of a larger mixed-use project known as Denver Place.
Denver Place is Colorado’s largest commercial office property, developed by Devco Property Inc. in 1981 and designed by Marvin E. Knedler & Associates. The mixed-use project consists of the North and South Towers, Terraces and the Granite Tower. In 2005, Granite Properties bought the Denver Place Plaza Tower at 1099 18th St. for $161 million. The Plaza Tower includes the Embassy Suites Hotel, The Apartments at Denver Place and the TruFit Athletic Club.
“This is a very high-quality property with a unique opportunity to further improve the residential units, common areas and amenity spaces,” says Matt Masinter, senior vice president of acquisitions at Waterton. “We are very pleased to add Denver Place to our portfolio, as we see a lot of growth potential in this market and some great value-add upside at this property.”
Residents at The Apartments will have full access to the Ritz’s luxury amenities, including in-building access to the Ritz-Carlton Spa, Elway’s Restaurant and the newly renovated TruFit Athletic Club. The pet-friendly apartment community also features a business center, renovated residential units, ample closet space, clean-steel appliances, hardwood floors, patios/balconies, washer and dryer, and beautiful city and mountain views.
Located at 1880 Arapahoe St., the property is within walking distance from Coors Field, the Arapahoe Square Redevelopment Area, and various shopping, dining and entertainment destinations. Additionally, The Apartments at Denver Place are just six blocks away from Denver’s Union Station.
Image courtesy of Waterton Residential