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Largest Denver apartment sells for $163m, record sale
Transactions - SEPTEMBER 14, 2020

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Largest Denver apartment sells for $163m, record sale

by Released

Oak Coast Properties has sold Pembrooke on the Green Apartments in Denver, Colo., for $163 million.

The transaction is one of the largest apartment-community sales in Denver by value in 2020. Oak Coast Properties originally purchased the community — one of the largest in Denver, encompassing 959 units — in 2016 and deployed an extensive renovation plan to the property as part of its value-add investment strategy. Newmark Knight Frank represented the seller in the deal.

“Pembrooke on the Green is one of the largest multifamily assets in the Denver metropolitan region,” said Phil Nahas, managing partner with Oak Coast Properties. “We purchased the community understanding it represented a premier investment opportunity in a city where demand for quality housing continues to exceed supply. As a strong cash-flowing asset, our investment in Pembrooke on the Green helped us realize a doubling of our equity during our ownership.”

Pembrooke on the Green is on

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