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News release

DENVER, CO

Denver’s Growing Multifamily Market Notches its Latest Trade

JLL closes sale of Sandpiper Apartments


DENVER, March 25, 2015 – Earning a place among the top 10 multifamily investment sales markets according to JLL research, Denver’s multifamily market continues to boast a strong performance. On behalf of Bridge Investment Group Partners, JLL’s Capital Markets experts today announced the firm closed the sale of Sandpiper Apartments, a 357-unit multifamily property located in the Denver suburb of Westminster, Col., to Colrich Investments. 
 
Managing Director Pat Stucker and Vice President Ray White led the JLL team on the transaction.
 
“Denver’s MSA is experiencing strong rent growth and the opportunity to acquire a value-add play drew interest from many investors,” said Stucker. “Plenty of jobs are coming to the area, which will further drive the property’s performance.”
 
The property features 30 three-story buildings and is located near several renowned retail corridors as well as the area’s transit hubs, providing direct access to Denver’s Central Business District (CBD). Community amenities include a barbeque and picnic area, three swimming pools, volleyball court, game room, dog park and fitness center.
 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.