Colorado developer pays $15.14 million for 12.6 acres, plans apartments
The Garrett Companies, a real estate developer based in Colorado, has acquired a 12.6-acre parcel in Englewood for $15.14 million with plans to transform it into a 317-unit apartment complex.
Named Garrett Park Meadows, the development at 8600 S. Valley Highway will feature a clubhouse with full amenities and six four-story residential buildings.
Construction is already in progress, and the apartments will offer a mix of one-, two-, and three-bedroom units.
CBRE Executive Vice Presidents Eric Roth and Martin Roth, along with Vice Chairman Chris Cowan, represented the seller, Grace Chapel, in the deal.
“This site is situated in one of the most desirable locations along the front range, providing easy access to restaurants, shopping, and public transportation, which is uncommon for a suburban area,” stated CBRE’s Eric Roth.
Located at the intersection of Interstate 25 and E-470, the property offers convenient access to the County Line Light Rail Station and Park Meadows Mall via a pedestrian footbridge.
Its close proximity to the Denver Tech Center is expected to appeal to tenants working in the area, according to CBRE.
Founded in 2014, The Garrett Companies specializes in developing, constructing, and managing multifamily properties in 22 states. Some of their recently completed projects include The Pendant Southlands, Ara Townhomes & Flats, and Rewind at Crest.
In addition, the company is currently working on two apartment communities in Longmont and Colorado Springs, with a combined project value of $145 million.
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