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Prairie Center Sale Validates Leased-Living Experience Value
NexMetro Communities recently closed the record $63.1 million sale of its purpose-built single-family rental project in metro Denver. The sale of the 136-home Avilla Prairie Center, located at 2103 Peregrine Dr. in Brighton, CO, represents a $464,000 per unit transaction.
The buyer was Chicago-based Inland Real Estate Group of Companies Inc. Regarded as the first broadly marketed built-to-rent community in Colorado, the asset class has exhibited unprecedented demand and popularity, said Richard Van Wert, chief investment officer of NexMetro Communities.
“Denver has emerged as one of the strongest multifamily markets in the country, and real estate investors are actively searching for assets to expand their Denver presence. The sale of Prairie Center further validates the tremendous value in the market for the higher quality leased-living experience that makes Avilla Homes such a unique alternative to the typical apartment rental,” says Van Wert.
Avilla Prairie Center in Commerce City was brokered by the Denver multifamily sales team from Walker & Dunlop: Dave Potarf, Matt Barnett, Dan Woodward and Jake Young.
- ◦Sale/Acquisition
