Westminster apartment building sells for $82 million

Hamilton Zanze’s Colorado acquisition of Environs Residential Rental Community was recently featured in the Denver Business Journal:

“Hamilton Zanze purchased Environs Apartments in Westminster has for $82 million.

Located at 3323 W. 96th Circle, the 33-acre property was 92 percent leased at the time of the sale. The 318-unit complex consists of market-rate single residences, patio homes, townhomes and condos. This purchase brings HZ’s total number of properties in Colorado to 15. Nine of them are in the metro area.

Given the demand for single-family homes today, David Nelson, managing director of acquisitions for HZ said that the company believed Environs unique mix of offerings will appeal to a ‘wide renter pool around the region.’

The property, built in 1984, was sold by Seagate. Amenities include a clubhouse, fitness center and two pools. Seagate upgraded all but 119-units, which HZ plans to finish.

Hamilton Zanze recently purchased a Broomfield apartment community for $50 million and another Broomfield apartment complex for $67 million.”

Visit the Denver Business Journal for the full story, and see additional coverage at PE Hub Network and Colorado Real Estate Journal.