Skip Ribbon Commands
Skip to main content

News release

DENVER, CO

Denver’s Limited Supply Pipeline Spurs Multifamily Value-Add Sale

JLL completes $29.8 million sale of Park Place at 92nd


DENVER, Feb. 29, 2016 – Taking advantage of low vacancy rates and minimal new construction nearby, JLL’s Capital Markets experts today announced the sale of Park Place at 92nd located in Westminster, Colorado, on behalf Bascom Group. ColRich purchased the 228-unit value-add asset for $29.8 million.
 
Managing Director Pat Stucker and Vice President Ray White led the JLL team on the transaction.
 
“Denver’s streak of vacancy rates below five percent, huge population growth and very limited supply pipeline has made value-add properties enticing to investors,” said White.
 
Located just minutes from five arterial transit routes, an array of retail destinations and downtown Denver, Park Place at 92nd includes amenities such as a heated pool, a business center, outdoor barbecue area and private balconies or patios.
 
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 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 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.