MLG Picks 192-Unit Denver Apartments for $51M

MLG Capital paid $51 million for an apartment complex in Denver’s East Colfax neighborhood. The 192-unit Lowry North apartments on E. 11th Ave. sold for $265,000 a unit. The Lowry North apartments feature 66 one-bedroom, 96 two-bedroom and 30 three-bedroom apartment units. Amenities include a pool, hot tub and fitness center. Rent ranges from $1,600 to $2,700.  

The apartments are located within a 10-minute drive of Stanley Marketplace, the University of Colorado Anschutz Medical Campus and the Denver Museum of Nature & Science. A new indoor golf venue called the Hangar Club recently opened in a 22,000-square-foot building just over a mile from the Lowry North apartments. 

Nick Steele and Nate Moyer with Berkadia brokered the transaction. 

The Denver Business Journal reports MLG Capital’s other properties in Colorado include a 112-unit apartment complex in Durango; the firm used to own a 280-unit apartment community in Fort Collins but has since sold it. The company is active in 22 states with close to 40,000 multifamily units.

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