Newly-Built SouthWestern-Developed Apartments Fetch $63M Just North of Denver

The 220-unit Range at Reunion, an apartment community located in Adams County is directly north of the Rocky Mountain Arsenal National Wildlife Refuge and less than 10 miles west of Denver International Airport. The apartment complex sold for $63.35 million, or about $350,000 a unit.

The seller is SouthWestern Property Corp. SouthWestern currently has multifamily, self-storage and industrial properties in Colorado, Hawaii, Arizona, Minnesota and Florida. 

Ridge Reef Properties, a real estate company based in South San Francisco, is the new owner of the apartment community. In 2020, the company purchased Highpointe Park, a 220-unit apartment community in nearby Thornton, for $53.6 million. 

SouthWestern developed the property and had it fully leased prior to receiving its certificate of occupancy last year. The complex offers one-, two- and three-bedroom apartments, with rent ranging from $1,615 to $2,550. Amenities include a pool, fitness center, clubhouse and conference room. A Walker & Dunlop team headed by Dan Woodward brokered the sale.