Colorado

DENVER — The Radco Cos. has acquired the 322-unit Summit at Thornton apartment community for $28.2 million. The community is located at 101 E. 88th Ave. in Thornton, just north of Denver. Summit at Thornton was built in 1973. It is the second asset Radco has acquired in the Greater Denver area over the past four months. The company plans to upgrade and rebrand the property. The institutional seller invested significant capital to improve Summit at Thornton in 2011. It was represented by ARA’s Terrance Hunt, Shane Ozment, Doug Andrews, Jeff Hawks and Anna Stevens.

DENVER – A 23-unit apartment building in Denver has sold to an unnamed buyer for $3.4 million. The community is located at 2701 Federal Blvd. It was built in 1971. The buyer was represented by Saratoga Property Advisors. The seller, Cedarbridge Apartments LLC, was represented by the Calame Lewallen Team at Pinnacle Real Estate Advisors.

AURORA, COLO. — Phoenix Realty Group (PRG) has acquired the 600-unit Chelsea Park Village in Aurora for an undisclosed sum. The community is located at 11850 East Maple Ave. Chelsea Park is situated near many of Denver’s major employment hubs, including the Denver Tech Center (DTC), the Lowry Redevelopment Area, the Stapleton Redevelopment Area and Fitzsimons Lifescience Campus. The community is currently 97 percent occupied. Common-area amenities include a renovated clubhouse and leasing center, heated swimming pool and spa with patio area, splash park, two saunas, fitness center, turfed soccer field, baseball field, basketball court, dog park and a new playground. PRG plans to further enhance both the community amenities and unit interiors. CBRE’s David Potarf and Dan Woodward represented both the buyer and unnamed seller in this transaction. Sandler O’Neill + Partners served as PRG’s financial advisor. It also sourced its joint venture equity.