Watermark Residential Completes Disposition of 206-Unit Class A Haven by Watermark House Neighborhood in Denver, Colorado

Watermark Residential Completes Disposition of 206-Unit Class A Haven by Watermark Apartment Community in Denver, Colorado

DENVER, CO – Watermark Residential, a wholly owned subsidiary of Thompson Thrift and one of the nation's leading multi-family developers, announced the sale of Haven by Watermark, a 206-unit Class A multi-family community in Denver's proposed master community Green Valley Ranch. The Blackstone Group purchased the property for an undisclosed amount.

"Our defined process and our integrated team structure enable us to develop, stabilize and sell communities for attractive returns," said Josh Purvis, managing partner of Watermark Residential. "The leasing and investor interest in Haven by Watermark further validates Watermark's ability to serve sought-after communities on a style, comfort and luxury basis."

Haven by Watermark is located at 18400 Elmendorf Drive. Completed in 2020 and 97% rented, the community has an e-Urban® design that is 30% more efficient and uses 30% fewer materials than traditional design. The spacious one- and two-bedroom apartments are stylishly furnished with country-style vinyl floors, a 9 & # 39; kitchen island, granite countertops, energy-efficient stainless steel appliances and walk-in closets. Residents enjoy world-class communal facilities, including a fitness center with a peloton and TRX; Elevator; a resort-style pool and spa with grills, cabanas, and outdoor kitchens; a fully equipped clubhouse, game room, karaoke room, focus room; and a "dog breed".

The community is strategically located north of Interstate 70 and Pena Boulevard, the main route to Denver International Airport. Pena residents are within walking distance of Pena Station RTD, which provides direct access to the airport and major employers in the area, including Buckley Air Force Base, University of Colorado Anschutz Medical Campus, Raytheon, Kaiser Permanente and Gateway Park. Highly rated public schools and charter schools as well as nearby restaurants, entertainment and shopping opportunities underline the attractiveness of the property.

Watermark Residential is a national leader in the development, construction and management of upscale apartment buildings and luxury rental apartments. Colorado's other interests include communities in Longmont and Parker, and real estate under development in Colorado Springs and Castle Pines.

Dan Woodward, David Potarf, Matthew Barnett and Jake Young of CBRE Capital Markets represented Watermark on the sale.

Source: Watermark Wohnenmark


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