Hamilton Zanze Pays $60M For Englewood Apartments
A San Francisco real estate investment company has acquired the 238-unit Oxford Station apartment complex in Englewood for $60M.
It is the seventh acquisition in metro Denver for Hamilton Zanze, which has acquired more than $3.2B in multifamily assets since its founding in 2001. The company owns and operates 84 properties with 18,425 units across 10 states.
“Oxford Station offered a unique opportunity to buy a phenomenally built product with modern amenities at an attractive basis,” Hamilton Zanze Managing Director of Acquisitions David Nelson said. “The property is located adjacent to a light-rail station, providing residents with convenient access to downtown Denver and an ever-expanding rail network.”
Developed by Littleton Capital Partners, the property opened just over a year ago and has maintained a high occupancy rate. At the time of the acquisition, occupancy was at 96%.
The property contains two five-story buildings that have a mix of studio, one- and two-bedroom units. Amenities include a fitness center with virtual workout classes, an entertainment lounge, a social lounge, a Zen lounge, a pet-washing station and dog park, on-site secure storage, enclosed bicycle parking, a pool with a hot tub and a barbecue area, an outdoor gaming area, a bike-, ski- and board-repair station, and structured parking.
The property will be managed by Mission Rock Residential.
"Oxford Station occupies a highly desirable niche in the Denver multifamily market," said CBRE Capital Markets Senior Vice President Matt Barnett, who, along with Dan Woodward and David Potarf, represented Littleton Capital Partners. "It is new construction, located within steps of the light rail, highly visible from both rail and road, and it offers supremely well-conceived unit and community amenities that directly correlate with Colorado's quality of life."
