Bentall Kennedy Pays $110M for Alameda Station in Denver

Bentall Kennedy LP paid $109.6 million to IMT Capital for ownership rights to Alameda Station, a Class A, 338-unit multifamily complex in Denver. The Seattle-based buyer acquired the property at 275 S. Cherokee St., on behalf of its open-end MEPT Fund.

The complex delivered in 2014 and was 94% occupied at the time of sale. IMT Capital had acquired it from developer Wood Partners for $84 million in October 2014. Bentall Kennedy’s Mike Keating indicated the property’s appeal involved strong market conditions and a strategic location.

Alameda Station has a mix of studios and one, two and three-bedroom units. The property has proximity to the Alameda Station Light Rail, and amenities include a clubroom with lounge and bar, pet-grooming station and pet park, roof-top sky lounge with a bar, bike/ski shop, fitness center and pool.

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