Gelt acquires multi-housing community in Denver for $68.3m
Transactions - MARCH 18, 2024

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Gelt acquires multi-housing community in Denver for $68.3m


Gelt announced that it acquired Allure Apartments, a 252-unit, core-plus, garden-style apartment community in the Cherry Creek South neighborhood of Denver for $68.25 million.

JLL worked on behalf of the seller, and procured the buyer. JLL also worked on behalf of the new owner to secure the seven-year loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

Built in 2002, Allure Apartments feature one- and two-bedroom units averaging 1,010 square feet. Unit finishes include stainless-steel appliances, tile backsplash, plank wood-style flooring and in-unit washers and dryers. Community amenities include a 24-hour fitness center, detached garages, a business center, a coffee bar and a residential clubhouse.

Situated at 1300 S, Willow St., Allure sits within the A-rated Cherry Creek School District and has access to some of Metro Denver’s largest employment hubs, including the Central Business

Forgot your username or password?