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Cherry Creek Apartments Fetch $225M
The Broe Group acquired The Seasons at Cherry Creek for $225 million. Season Residential II sold the 587-unit project for what comes out to $383,000 a unit. The Colorado Real Estate Journal reports it’s one of the largest transactions in Cherry Creek history. The project was 95% occupied.
The complex has three buildings, two built in 1988, one in 2010. The Class A asset has numerous high-end amenities, such as 24/7 concierge access, multiple coffee bars, a gym and fitness center, access to a neighboring spa, and a resort-style pool. The new owners plan to poll the tenants regarding potential upgrades.
- ◦Sale/Acquisition
