Amplify Development Acquires Vista Apartments Near University of Denver for $41.3M
DENVER — Amplify Development Co. has acquired Vista Apartments, a multifamily asset near the University of Denver, for $41.3 million. The community was developed in 2008 and offers 284 beds across 84 units.
Located at 1920 S. University Blvd. in Denver, the off-campus, student-focused apartment community features fully furnished two-, three- and four-bedroom units with private bathrooms, flat-screen TVs in the living room and floor-to-ceiling windows.
Onsite amenities include a business center, study rooms, computer lab, Wi-Fi, TV lounge, 24-hour maintenance and laundry facilities on each floor. The pet-friendly property also offers two outdoor terraces, an outdoor TV lounge, fireplace, grilling stations, secured covered parking and bike parking.
Amplify plans to begin an extensive renovation at the property, which will include unit updates, common area upgrades and the addition of utility infrastructure. Denver-based Capstone Management Partners will manage the asset.
Jack Brett with Newmark’s student housing group represented the undisclosed seller, while Nick Steele and Tyler King with Berkadia Denver represented the buyer in the deal.