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Gelt Expands Denver Multifamily Portfolio

The investor buys Cedar Run Apartments, a 384-unit property in Denver, for $62 million.

Gelt Inc. has acquired Cedar Run Apartments, a 384-unit property, for $62 million from Maxx Properties. The purchase brings Gelt’s Denver portfolio to 1,900 apartment units. The firm plans to acquire a total of 2,000 units in the market in the next 24 months.

Located at 888 South Oneida Street in Denver, the property sits on 14 acres and features one- and two-bedroom units, last renovated from 2012 to 2017. The property has the full roster of amenities, including a 27,000-square-foot clubhouse building with two racquetball courts, indoor pool, fitness center and conference room spaces.

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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