July 31, 2017 Comments Off on Steadfast Adds Denver-Area MF for $63M    Views: 677 Colorado, National News, Southwest

Steadfast Adds Denver-Area MF for $63M   

Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.

Irvine, CA-based Steadfast Apartment REIT III, Inc. (STAR III) acquired Belmar Villas, a 318-unit garden style apartment community in Denver from from Seagate Properties for $63.3 million. The 93%-occupied property is located at 700 South Reed Ct. in Lakewood, CO, a suburb seven miles west of Denver.

STAR III’s Ella Neyland says, “We believe the Denver area is a great match for the investment objectives of Steadfast Apartment REIT III, which targets mid-tier multifamily properties in growing communities.” The investment is Steadfast’s second property acquisition in the Denver metropolitan area, and sixth apartment home community purchase.

Belmar Villas includes 17 three-story buildings with one-, two- and three-bedroom apartment homes. The previous owner completed renovations to roughly a quarter of the units, and STAR III plans to renovate the remaining interiors when turning apartments between residents.

Connect With Steadfst REIT’s Neyland


Get CRE News in 150 words


Submit Your Nominations

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: ,

Comments are closed.