CIM Group Purchases 710-Unit The Lex at Lowry Multifamily Community in Denver
DENVER — CIM Group has purchased The Lex at Lowry, an apartment property located on 26 acres at 240 S. Moncao Parkway in Denver. Terms of the transaction were not released.
Originally built in 1972, The Lex at Lowry consists of 24 buildings offering a total of 710 units in a mix of townhome and mid-rise buildings in one-, two- and three-bedroom layouts. Community amenities include 1,204 parking stalls, multiple swimming pools, tennis courts, a yoga and spin studio, racquetball court, indoor basketball court, fitness center and business and conference facilities. The property also features a playground, dog park and ample outdoor seating areas with fire pits.
This acquisition brings CIM Group’s Denver-area residential portfolio to more than 1,300 units.