Bridge Acquires Lakewood Apartments for $100M

Bridge Investment Group bought the Silver Reef apartments, at 12205 and 12405 W. Second Place, in Lakewood, for $100 million. The Denver Business Journal reports the property last traded hands for $96.7 million in 2018 when it was purchased by Inland Real Estate Group.

The 419-unit apartment buildings were constructed in 1984. Situated at the northwest corner of the Van Gordon Street and West Second Place intersection, Silver Reef offers one- and two-bedroom apartments that range from 600 to 1,099 square feet.

Amenities at Silver Reef include a clubhouse, two outdoor pools, a spa, volleyball and tennis courts, a fitness center, and outdoor grilling and barbecue stations.

Bridge Investment Group has been active in the Denver-metro area through other projects. The company is a co-developer of Banyan High Point, a 399-unit multifamily building at Picadilly Road and East 65th Avenue in Denver.

Bridge has $50.2 billion of assets under its management. That includes 62,100 multifamily, and workforce and affordable housing units.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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