WESTMINSTER, CO – Township Capital and Epic Investment Services announce the acquisition of Willowbrook Apartments in the greater Denver, Colorado area. This is the second acquisition in Epics U.S. Multifamily Fund I with Township Capital as the main investor. Fund I seeks to acquire garden-style apartment buildings in select markets that target strong demographics, permanent employment and other value-adding traits.
"We see significant value creation potential at Willowbrook," said Jeffrey Kohn, Epic co-CEO. "There are major renovation plans in place that we expect to boost operating cash flow and position the asset for a strong exit."
Willowbrook consists of 95 units in four buildings and is currently 100% occupied. The complex is strategically located less than a mile from the Westminster Light Rail Station and provides commuters with quick access to Union Station in downtown Denver and connections to all areas of Metro Denver.
"We are proud to be part of this deal with Epic. Township has aligned itself with Fund I strategy and has seen firsthand the results of sourcing the right product for the Fund," said Matthew Gorelik, CEO of Township Capital. “The value creation model delivers exceptional results, which is important for Township's role as the main investor in Fund I. We looked for opportunities in the multi-family sector, as it has remained resilient even after the pandemic. "
Extensive implementations with added value are planned at Willowbrook. Almost half of the units will be newly renovated, in addition to modernizing the common rooms, in accordance with the requirements of prospective tenants in the market.
Earlier this year, Township became the main investor with $ 60 million in Epic's US Multifamily Fund I.
Source: Township Capital / Epic Investment Services
