Confluence Cos. has sold The Lydian, a mixed-use property located in the heart of Denver, for $66 million to Cohen Rojas Capital Partners.
Built in 2018, the class A, luxury building comprises 129 apartment units, 8,176 square feet of ground-floor retail space, and 14,500 square feet of designated co-working office space.
“The sale of the Lydian is indicative of a rebounding of Downtown Denver from COVID-19. Rent growth within the market is climbing higher than pre-pandemic levels,” said Dan Woodward of Walker & Dunlop Investment Sales, which completed the disposition on behalf of Confluence Cos.
The Lydian is an all-inclusive community offering residents complementary retail space, occupied by a yoga studio and upscale cocktail lounge, and state-of-the-art co-working office space. Out of 129 apartment units, 22 are rent-restricted at 80 percent of area median income (AMI), and The Lydian also provides amenities such as a rooftop lounge and pool, fitness
