December 18, 2017
Los Angeles-based Oak Coast Properties acquired Aurora Hills Apartments in Aurora, CO for $96 million. Located just north of downtown Denver, the 94.8%-leased community sits on 48 acres in Denver’s Lowry submarket, and comprises 600 units in 47 buildings presented in both two and three stories.
Oak Coast Properties’ Phillip Nahas says, “With the purchase of Aurora Hills Apartments, our regional portfolio has now reached 3,600 apartment units in the Denver region alone.”
Miami-based Pensam Residential provided equity financing for the acquisition. HFF’s Charles Halladay, Lee Redmond and Brock Yaffe assisted in securing a $76.7 million supplemental loan for the buyer through Freddie Mac’s CME Program.
CBRE’s David Potarf, Dan Woodward, Matt Barnett, Brady O’Donnell and Brian Eisendrath represented the seller.
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