Publicly-traded Avalon Bay Communities purchased a 306-unit apartment community Alta Cherry Hills in the south Denver-metro area for $95 million.
Bell Fund VI was the seller of the multifamily community, at 3650 S. Broadway, in Englewood. It is located at the southeast intersection of South Broadway and Hampden Avenue. Residents can entertain in modern kitchens with granite countertops, stainless steel appliances, contemporary fixtures, and hard-surface vinyl plank flooring throughout. Amenities include a lounge, state-of-the-art fitness center, resort-style pool, outdoor grill area, pet spa, and more. Located just minutes from SoBo’s eateries, River Point shopping center and downtown Denver, plus close proximity to nearby shops and restaurants.
The nearly 4.6-acre property was formerly known as Alta Cherry Hills but has been rebranded as Avalon Cherry Hills. The Denver Business Journal reports the apartment community was last sold in 2017, for $78.3 million. It was built in 2016.
The equity REIT company is a member of the S&P 500. It develops, redevelops, acquires and manages apartment communities across the United States. As of June 30, the company owned, or held a direct or indirect ownership interest, in 300 apartment communities consisting of almost 91,400 apartment homes in 12 states and the District of Columbia.
AvalonBay Communities, Inc., an equity REIT, has a long-term track record of developing, redeveloping, acquiring and managing distinctive apartment homes in some of the best U.S. markets, and delivering outsized, risk-adjusted returns to shareholders. With equal parts experience and vision, we’ve established a leadership position rooted in our purpose of creating a better way to live and that is always focused on building value for the long term.
