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MLG Buys Rental Community, Opens Denver Office
MLG makes its presence felt in Denver by buying an apartment complex and and then the company opens an office there. Last week, the company announced that it is moving into a new office in the Denver Tech Center in Greenwood Village and sees “strong potential for additional acquisitions in Denver.”
MLG Capital acquired the apartment complex in Denver’s East Colfax neighborhood earlier this month for $51.05 million. The Lowry Apartments, with 192 units, sold for $265, 885 a unit. Built in 2002, the apartment community last sold in 2007 for $24.4 million.
Rent ranges from $1,600 to $2,700. Amenities include a pool, hot tub and fitness center.
The apartments are located within a 10-minute drive of Stanley Marketplace, the University of Colorado Anschutz Medical Campus and the Denver Museum of Nature & Science. A new indoor golf venue called the Hangar Club recently opened in a 22,000-square-foot building just over a mile from the Lowry North apartments.
- ◦Sale/Acquisition
