Denver-Area Apartment Community Trades for $108.75 Million
Trion Properties purchased the 402-unit multifamily community, Terra Village, for what amounts to $270,000 per unit. The new buyers will be rebranding the property, calling it Edge 26 at Sloan’s Lake.
The transaction was Trion’s fifth in Colorado, amounting to over 1,500 units.
The asset sits on 16 acres, positioning it as a rare low-density community within the high-density urban area of Wheat Ridge/Edgewater/Sloan Lake.
Despite being built in 1970, the previous owners performed a number of renovation projects. Trion’s Farhan Mahmoud says that allows them to basically update the units, “With less risk and overhead, we can now focus on strategically elevating the asset by fully rebranding the property, modernizing classic interiors and incorporating a complete tech package.”
- ◦Sale/Acquisition
