Loft 9 More Than Doubles Trion’s Denver Holdings

Trion Properties along with equity partner PCCP LLC recently acquired Loft 9 Apartments, a 418-unit multifamily community in Denver for $82.5 million. The acquisition more than doubles the firm’s holdings in the Denver metro area, bringing its portfolio to more than 700 units since entering the market last year, and more than 1,100 in Colorado, according to Max Sharkansky, managing partner at Trion Properties.

“This was an exceptional opportunity to acquire a well-located community off market, which we were able to secure based on our established broker relationships and a unique situation that presented itself,” explains Sharkansky “We were initially drawn to Denver due in large part to the region’s strong employment market. It is gaining a reputation nationally as a top tech hub and seeing the expansion of many major employers including Amazon, which is planning to add 2,700 jobs in Denver. This property is positioned to benefit greatly from this ongoing growth, as it is in close proximity to several employers and offers convenient access throughout the entire Denver metro area.”

Sharkansky notes that Loft 9 is within a 10-minute drive of the 37 million-square-foot Southeast Business Corridor which includes the Denver Tech Center. It is home to a majority of Denver’s Fortune 500 headquarters including Dish Network and others.

“Denver saw a population increase of approximately 20 percent over the past 10 years and is continuing to attract top professionals seeking robust employment opportunities and a high quality of life,” continues Sharkansky. “The Southeast Business Corridor’s features including significant infrastructure investment and diverse range of industries are driving employment and population growth throughout the southeast Denver submarket in particular.”