October 11, 2016
Pensam Residential, BH Equities LLC and Wafra Capital Partners acquired a majority stake in the 1,523-unit Breakers Resort, a multifamily property at 9099 E. Mississippi Ave. in Denver, CO. The buyers paid a record sales price of $350 million to sellers Bascom Group and Koelbel & Co. ARA, A Newmark Company, brokered the transaction.
Denver developer Koelbel, which built the Breakers, retained a stake in the asset when Bascom bought into it in 2006. Koelbel will continue to retain a minority stake in the property.
The massive complex is situated on 190 acres, and is spread across six “villages.” The purchase also included a 26,000-square-foot recreation center.
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