DENVER — California-based FPA Multifamily has purchased a three-building, 237-unit multifamily portfolio in Denver from 2580 South University Co. LLC, 2550 South University Co. and 2512 South University Co. for an undisclosed price. Justin Hunt and Andy Hellman of CBRE represented the sellers and original owners of the properties in the deal.
The portfolio includes:
- Tabor House, an 82-unit property at 2512 S. University Blvd. Built in 1967, the eight-story property offers apartments with an average unit size of 882 square feet.
- Post House, a 64-unit asset at 2550 S. University Blvd. Built in 1974, the 11-story building offers layouts with an average unit size of 940 square feet.
- Heritage House, a 91-unit property at 2580 S. University Blvd. Built in 1968, the 10-story property offers an average unit size of 874 square feet.
The sellers recently renovated about a dozen units across the portfolio. The units include air conditioning, dishwashers and oversized private balconies. The buildings share an amenity package, including a clubhouse, pool, sauna, community kitchen, billiards, ping pong table and parking garages. Additionally, Tabor House offers a fitness center and Heritage House and Post House offer steam rooms.