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Loft 9 Marks PCCP’s Second Colorado Buy in 2021
A joint venture of PCCP LLC and Trion Properties recently acquired Loft 9 Apartments, a 418-unit low-rise apartment community located at 11100 E. Dartmouth Ave. in Denver. The price was undisclosed.
“This marks our second acquisition in Colorado this year with Trion Properties, an experienced multifamily operator and investor,” said Matt Cochran, a vice president with PCCP. “Loft 9 Apartments provides us with an attractive opportunity to own a well-located apartment community in the growing Denver market.”
The unidentified seller acquired the property in 2018, and recently completed significant updates to the asset including common areas renovations and amenity upgrades, HVAC improvements and 121 unit renovations. The new ownership plans to invest additional value-add capital to continue to improve the property and further renovate units.
Built in phases between 1975 and 1978, Loft 9 is situated on 10.6 acres with five three-story buildings. The unit mix includes two studios, 362 one-bedroom units and 54 two-bedroom units with an average unit size of 838 square feet.
- ◦Sale/Acquisition
