The Denver Business journal reports that Crossbeam Capital LLC from Bethesda, Maryland has bought the Summit Ridge, 360-unit apartment complex near DTC for $31 million.

"Denver is showing exceptionally strong occupancy and rent growth trends, driven in large part by the market's continuing expansion of the technology and health care sectors," said Matt Peterson, Crossbeam's Denver-based acquisition manager.

The complex's location near the DTC was the appeal for the company.  "The Denver Tech Center, (has) the largest concentration of technology offices in a five-state region and (is) a major employment hub," Peterson said in a statement.

The Denver Business Journal reported that there were many potential buyers interested in the property.

Read the full story online at The Denver Business Journal.

photo credit: ykanazawa1999

Posted in Denver Colorado Real Estate, Real Estate Investing, Real Estate Market Conditions

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