MLG Capital Purchases The Lowry Apartments in Denver for $51.05M

The Lowry Apartments
The Lowry Apartments (Lowry North) are located at 8001 E 11th Avenue in Denver, Colorado.

MLG Capital makes its presence felt in Denver by buying an apartment complex, The Lowry Apartments, and and then the company opens an office there. The company announced that it is moving into a new office in the Denver Tech Center in Greenwood Village and sees “strong potential for additional acquisitions in Denver.”

MLG Capital acquired the apartment complex in Denver’s East Colfax neighborhood earlier this month for $51.05 million. The Lowry Apartments, with 192 units, sold for $265,885/unit. Built in 2002, the apartment community last sold in 2007 for $24.4 million.

Rent ranges from $1,600 to $2,700. Amenities include a pool, hot tub and fitness center.

The apartments are located within a 10-minute drive of Stanley Marketplace, the University of Colorado Anschutz Medical Campus and the Denver Museum of Nature & Science. A new indoor golf venue called the Hangar Club recently opened in a 22,000-square-foot building just over a mile from the Lowry North apartments.

MLG Capital is a direct real estate operator and private equity real estate investment firm focused on maximizing our client’s’ investment capital. Our 35+ year operating history is rooted in absolute integrity, which shows in our clients’ results; our track record of favorable returns has earned us a strong reputation and following of thousands of satisfied investors across the USA. Our experience is in real estate investment and management first, so when it comes to selecting properties, you know there are experts at the helm considering all possibilities.