Integral, Wanxiang Sell High-Rise Apartment Building in Denver for $110.5M
DENVER — A partnership between Atlanta-based The Integral Group and Chicago-based Wanxiang America Real Estate Group has sold EVIVA on Cherokee, a high-rise apartment building located at 1250 Cherokee St. in Denver’s Golden Triangle neighborhood. The partnership developed the 18-story property in 2017.
The buyer and sales price were undisclosed, but multiple media outlets report that an affiliate of Chicago-based Equity Residential purchased the asset for $110.5 million.
EVIVA on Cherokee features apartments averaging 820 square feet with industrial-inspired finishes, including exposed concrete, high-gloss custom cabinetry, quartz countertops, stainless steel appliances, sliding barn doors and floor-to-ceiling windows.
Community amenities include a resort-style saltwater pool with private cabanas, outdoor grilling area, bocce ball court, fitness center, movie room with billiards, demonstration kitchen, private indoor/outdoor conference room, rotating art gallery throughout the common areas, dog wash and 24-hour concierge services.
Jordan Robbins, Anna Stevens, Mack Nelson and Chris White of HFF represented the seller in the transaction.
“The limited availability of concrete, high-rise apartment communities in Denver created significant interest in the asset,” says HFF’s Robbins.
Founded in 2010, Wanxiang America Real Estate Group LLC has invested more than $1 billion of equity into nearly 100 commercial real estate investments of all product types across North and South America.
The Integral Group has developed EVIVA-branded assets in top markets across the country, including Oakland, San Francisco, Los Angeles, Atlanta and Sacramento. In addition to multifamily and seniors housing residences, Integral’s portfolio also includes Assembly Yards, the $2 billion redevelopment of the former General Motors plant in Doraville, Ga.
— Amy Works and John Nelson