Transwestern Investment Group and Trammell Crow Residential sell 164-unit multifamily community in Denver

231
Alexan Cherry Creek
Transwestern and Trammell Crow announce the sale of Alexan Cherry Creek, a 164-unit apartment community in Denver.

Transwestern Investment Group (TIG) and Trammell Crow Residential (TCR), the multifamily development company of Crow Holdings, announce the sale of Alexan Cherry Creek, a recently completed, 164-unit apartment community in the highly coveted Cherry Creek submarket of Denver.

“We partnered with Trammell Crow Residential on this development, which executed flawlessly on the design and construction, as evidenced by the rents this project is able to demand in the marketplace,” said Clarke Crenshaw, Managing Director at TIG. “After a successful lease-up, we engaged JLL to market this asset for disposition. Due to the quality of this community, coupled with a Cherry Creek address, there was strong interest from the investment community.”

Alexan Cherry Creek represents one of the few true core assets that has been brought to the market this year in Denver. The community offers residents gourmet kitchens with stainless steel appliances, ceramic tile backsplash, quartz countertops, designer bathrooms, walk-in closets and spacious bedrooms. The state-of-the-art amenities include a resort-style pool and spa, media room and rooftop sundeck.

Denver’s vibrant, walkable Cherry Creek neighborhood is the epicenter of luxury living due to the mixture of retail, fine dining, hotel accommodations, and high-end residences. The average household income within a 1-mile radius of the property is nearly $200,000, with 79 percent of residents having earned a bachelor’s degree or higher and 87 percent working in white-collar occupations.

The JLL Capital Markets team representing the seller was Jordan Robbins and Pam Koster.