Equity Residential has expanded its already impressive collection of multifamily properties with the acquisition of NOVEL White Fence Farm, a 202-unit complex located at 6273 W. Jewell in Lakewood. The purchase price for this recently completed asset was $77 million and it was previously owned by a joint venture between Crescent Communities and ParkProperty Capital.
The sale was facilitated by Courtney Crowder and Jack Kachadurian from Newmark. Completed just last year, the community consists of two apartment buildings as well as various amenities such as a fitness studio, resident gardens, and private garages.
This project was developed by Crescent Communities on the site where the iconic White Fence Farm restaurant used to stand along with an animal farm. The original farmhouse has been transformed into a clubhouse spanning over 9,300 square feet.
Rent prices start at $1,753 per month and go up to almost $3,000 per month for different sized apartments ranging from 556 to 1
