LAKEWOOD, Colo. — The Bascom Group, in partnership with Artemis Real Estate Partners, has acquired Avenida Lakewood, a 230-unit active adult community in Lakewood, just west of Denver.
Avenida Partners built the community in 2019. The price was not disclosed.
Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged the debt financing for the acquisition through Santander Bank. Apartment Management Consultants will provide property management services.
The property is located near recreation, retail and entertainment options against the backdrop of the Rocky Mountains. Avenida Lakewood is located between two of Denver’s premier medical centers, St. Anthony Hospital and Lutheran Medical Center, while also providing residents immediate access throughout Denver via the Oak Street Light Rail Station located three blocks from the property.
“Avenida Lakewood represents a highly attractive opportunity to act upon the demographic tailwinds of an aging population in a supply-constrained market,” says Jim Singleton, Bascom’s senior vice president and principal of acquisitions.