Denver

The investor acquires Cedar Run Apartments for $62 million and plans to immediately start a capital improvement plan.

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

The brokerage industry has grown from purely transactional to a consultative approach, and those who have adapted are gaining market share.

The Class A property, with 34,500 square feet of ground floor retail space, is expected to be ready for occupancy by the end of the first quarter of 2021.

The fund, structured as a REIT under a 506(c) designation, is an evergreen fund focusing on 75% value-add, and 25% cash-flowing commercial real estate investments in primarily Western growth markets, including but not limited to Colorado, Utah, Texas, Arizona, New Mexico and California.

Company officials say the CH2 data center is designed to leverage an interconnected campus environment with plans to deliver connection via redundant high-count dark fiber to CoreSite's CH1 data center, the company's key interconnection hub in Chicago.