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Griffis Pays $126M for Denver Multifamily
Greenwood Village, CO-based Griffis Residential struck a deal with Berhinger Harvard of Dallas, TX to acquire the 400-unit Skye 2905 Urban Flats. The $126 million paid for the apartment complex near Coors Field breaks out to $315,000 per unit.
The new owner will rename the property at 2905 N. Inca St. Griffis Union Station. According to the buyer, the purchase is part of an overall strategy to acquire core-plus multifamily properties. Jim DiReizo with Griffis indicated that Denver “has strong fundamentals – good job growth, good infrastructure and young, talented people.”
The property offers one and two-bedroom units, with lease rates ranging from $1,400 to $2,521 per month.
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