Regatta Apartments, a 93 percent-leased, 352-unit multifamily community located at 10500 Irma Drive in Northglenn, CO, for $100.5 million. This substantial acquisition marks the Los Angeles-based private investment firm’s first acquisition of 2021 and adds to its growing portfolio in the Denver region which now totals more than 2,600 units in seven apartment communities.
Built-in 2001, the garden-style gated community is situated on 22.79 acres and includes 22 two-story residential buildings and one clubhouse building. The asset features a mix of one, two, and three-bedroom units averaging 919 square feet. All of the units were recently renovated by the seller to include vinyl plank flooring, stainless steel appliances, quartz countertops, and white shaker cabinets, among other upgrades. The spacious units also feature walk-in closets, nine-foot ceilings, a patio or balcony, and extra storage. On-site amenities include a resort-style swimming pool, open-air year-round hot tub, sports court, media center and theater, fitness center, business center, splash park, dog wash and dog exercise park, and barbecue area with fire pit.