Archstone Communities Trust, a locally based REIT, is paying $17.3 million for the 256-unit Wendemere at the Ranch Apartments in the bedroom community of Westminster, situated northwest of Denver.

The sales price amounts to $67,734 per unit. The complex, built in 1984, is on 13.4 acres at 2890 W. 116th Place, just south of two major thoroughfares, W. 120th Ave. and Federal Blvd. The deal signifies the highest price to date for a complex built in the 1980s, says Doug Andrews, one of two Grubb & Ellis brokers who negotiated the sale. The RREEF Fund is the seller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.