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DENVER — TruAmerica Multifamily and institutional capital partner Investcorp have acquired a 561-unit apartment home community in Denver for $71 million. The community is located in the Cherry Creek submarket.
TruAmerica plans to complete improvements to the buildings’ exteriors and common areas. This plan was initially undertaken by the previous owner. The units will also receive multimillion-dollar renovations.
Brian Eisendrath, Annie Rice and Brandon Smith of CBRE Capital Markets arranged the financing. CBRE’s David Potarf, Dan Woodward and Matt Barnett represented the unnamed seller.