Gelt has acquired Willow Point Townhomes for $69 million in an off-market transaction. The 117-unit, rental community is located at 8500 E. Mississippi Ave. in Denver.
Built in 2016 on 8.57 acres, the property consists of 30 two-story residential buildings and 274 parking spaces. It features spacious two- and three-bedroom townhome-style units averaging 1,504 square feet, with attached two-car garages, private patios, stainless-steel appliances, quartz countertops, full-size washer/dryers, and study rooms in select units. On-site amenities include a resort-style pool and spa, dog wash and playground.
“Our team at Gelt saw this as a compelling opportunity to add to our Denver-area apartment portfolio, which now totals nearly 3,000 units in eight communities,” said Keith Wasserman, partner with Gelt. “We are bullish on acquiring large properties in growing markets across the nation, and Willow Point Townhomes was an ideal fit. By adding this to our existing Denve
