ColRich Multifamily has recently purchased Belmar Villas, a 318-unit multifamily community located just south of the popular Belmar Shopping District in Lakewood. The acquisition cost $74.3 million and was sold by Independence Realty Trust. According to Commercial Edge, ColRich secured a 10-year Fannie Mae loan worth $52 million for the property. This marks ColRich’s 19th investment in the Denver area.
The transaction was brokered by CBRE, with their Denver team representing the seller and another CBRE team from Los Angeles arranging financing for the purchase.
Built in 1971, this garden-style community is situated on an expansive 18-acre lot and consists of 17 buildings along with a leasing office. Residents can enjoy various amenities such as fitness and business centers, a swimming pool, clubhouse, as well as tennis courts volleyball courts and basketball courts.
Belmar Villas is conveniently located about one mile away from both West Alameda Avenue and Belmar Shopping District which boasts over 1.6 million square feet of retail space along with approximately400 thousand square feet of office space.
This latest acquisition adds to ColRich’s growing portfolio in Denver’s thriving real estate market without mentioning any specific platform or location names like “Connect” or “Connect CRE” or “Connect LA” or “Connect Texas”.
