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The deal for the 372-unit building reported by Holliday Fenoglio Fowler, L.P. marks Equity Residential's return to the Denver multifamily sector since its exit in January 2016.
Lone Tree has emerged as Denver's most sought-after enclave in recent years, JLL notes, and as the metro's fastest growing suburb it includes a discerning “renter-by-choice” demographic.
With many recent deals here, including a new $45-million multifamily development under construction by a Chicago-based firm investment company, among others, Denver continues to appear on investors' radar.
For its first deal in the US, the company partnered with other equity providers to buy 100,000 square feet of office space in Manhattan's Gucci building.