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DENVER, PHOENIX — BRE Properties has sold its joint venture interests in six multifamily properties throughout Denver and Phoenix for $47.5 million. The interests were sold to the firm’s joint venture partner. The six communities included in the sale are the Bluffs at Highland Ranch; the Fairways at Raccoon Creek; Pinnacle at DTC; Pinnacle at Mountain Gate in Denver, as well as Pinnacle at Union Hills and Pinnacle Terrace in Phoenix. The sale of these communities resulted in a net gain of about $15 million. BRE is currently focused on high-quality apartment communities in targeted growth markets like California and Seattle.