Praedium Group Acquires Denver-Area Legacy on the Promenade

The Praedium Group is the new owner of Legacy on the Promenade, a 300-unit, Class A apartment complex that delivered in 2018. The New York City investor acquired the Westminster, CO property for $93.5 million from the developer, Legacy Partners.

“The purchase of Promenade continues our strategy of purchasing high quality properties in growth markets,” said Peter Calatozzo with The Praedium Group. Over the next several months we intend to rebrand the property, and make several enhancements to the amenity areas.” He added that the property’s close proximity to the booming Denver MSA was a plus.

The asset is at 6250 Promenade Drive N., and offers one, two and three-bedroom apartments, as well as 24 townhome units. Community amenities offered include an outdoor lounge, pool and spa, outdoor grill and fire pit station, a fitness center with spin and yoga studio, and resident clubhouse.

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