Griffis Residential Announces Purchase of Platform at Union Station in Denver for $125.5M

233
Platform at Union Station
Platform at Union Station is located at 1650 Wewatta Street in Denver, Colorado.

Griffis Residential paid $125.5 million in cash for the 287-unit Platform at Union Station in Denver. Holland Partner Group was the seller. CBRE states the sale is among the largest multifamily property transactions in metro Denver in the last year.

Built in 2015, Platform at Union Station sits directly adjacent Union Station, Denver’s primary transportation hub. Ogden Theatre and Coors Field ballpark as well as the popular eatery Linger are within the vicinity of the property. Tupelo Honey Southern Kitchen & Bar occupies the building’s ground-floor retail space.

The building stands 21 stories with views of the Denver skyline and Rocky Mountains. The apartment homes are a mix of studio, one- and two-bedroom floorplans with an average unit size of 814 square feet. Apartment amenities include in-home washers and dryers, spacious closets, and high-end finishes. Community amenities include a resort-style rooftop terrace and pool, a 24-hour fitness center and yoga studio, an indoor dog run and pet wash station, and business and co-working centers.

A CBRE team led by Terrance Hunt represented the seller. Terrance Hunt is Vice Chairman in CBRE’s Colorado office, where he leads the Institutional Properties team with partners Shane Ozment and Chris Cowan. One of Denver’s consistent top-producing multifamily investment advisors, Mr. Hunt has been involved in the disposition of over 350 multifamily assets with a total consideration of over $13 billion throughout his 25-year commercial real estate career.