Watermark Residential Sells Class A Multifamily Community in Denver
June 16, 2021
Denver, CO
DENVER (June 16, 2021) – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced today the completed sale of Haven by Watermark, a 206-unit Class A multifamily community in Denver’s master planned community of Green Valley Ranch. Blackstone Group acquired the property for an undisclosed amount.
“Our defined process and integrated team structure allow us to develop, stabilize and sell communities for attractive returns,” said Josh Purvis, managing partner of Watermark Residential. “The leasing and investor interest in Haven by Watermark further affirms Watermark’s ability to deliver sought-after communities based on style, convenience and luxury.”
Haven by Watermark is located at 18400 Elmendorf Drive. Completed in 2020, the 97% leased community features an e-Urban® design that is 30% more efficient and utilizes 30% less materials than traditional design. The spacious one- and two-bedroom apartment homes are stylishly appointed with vinyl plank-style flooring, a 9’ kitchen island, granite countertops, energy-efficient stainless steel kitchen appliances and walk-in closets. Residents enjoy top-notch community amenities including fitness center with Peloton and TRX; elevator; a resort style pool and spa with grills, cabanas and outdoor kitchen; a fully equipped clubhouse, game room, karaoke room, focus room; and a “doggie spaw”.
The community is strategically located north of Interstate 70 and Pena Boulevard, the primary link to Denver International Airport. Commuting residents are within walking distance of Pena Station RTD, providing a direct link to the airport as well as the area’s major employers, including Buckley Air Force Base, the University of Colorado Anschutz Medical Campus, Raytheon, Kaiser Permanente and Gateway Park. Highly rated public and charter schools along with nearby dining, entertainment and shopping options punctuate the property’s attractiveness.
Watermark Residential is a national leader in the development, construction and management of upscale multifamily communities and luxury leased housing. Other Colorado interests include communities in Longmont and Parker and properties under development in Colorado Springs and Castle Pines.
Dan Woodward, David Potarf, Matthew Barnett and Jake Young with CBRE Capital Markets represented Watermark on the sale.
“Our defined process and integrated team structure allow us to develop, stabilize and sell communities for attractive returns,” said Josh Purvis, managing partner of Watermark Residential. “The leasing and investor interest in Haven by Watermark further affirms Watermark’s ability to deliver sought-after communities based on style, convenience and luxury.”
