Newmark Knight Frank Multifamily has announced the sale of the Ridge at Wheatlands, a 338-unit, class A, luxury, resort-style multifamily community located at 6855 South Langdale St. in Aurora, Colo., minutes from the Southlands Mall. The property sold for $91.25 million, or $270,000 per unit, making it the highest per unit price ever achieved in the city of Aurora, according to NKF’s research team.
Vice chairmen Shane Ozment and Terrance Hunt, along with executive managing director Chris Cowan, represented Denver-based Grand Peaks, a multi-billion-dollar multifamily asset development company, in the sale to Arlington, Va.-based AvalonBay Communities, one of the largest REITs in the United States that continues to expand its presence in the metropolitan Denver market.
“Early on, Grand Peaks recognized the potential for a multifamily development in the rapidly expanding Southlands submarket as well as the opportunity to foster a unique live/work/play lifestyle,” n
