The RMR Group announces acquisition of a Denver multifamily property

The RMR Group announced that it has acquired The Ridge at Lowry, a 240-unit, garden-style apartment community located at 10000 E. Alameda Ave. in Denver for $70 million. The property will be rebranded as ARIUM at Lowry under RMR’s consumer-focused brand, ARIUM, and will undergo extensive interior and exterior renovations.

“We have strong conviction in the long-term trends favoring the U.S. housing sector,” said Rob Lester, a senior vice president at RMR who heads RMR’s multifamily acquisition team. “We believe that our micro-market data analysis and high performing operating platform enable us to identify unique value add opportunities. Located in Denver’s Lowry neighborhood and situated between the highly coveted downtown Denver and Cherry Creek/Centennial sub-markets, we believe ARIUM at Lowry will offer superior access to public amenities and an improved, tenant-centric living environment. With limited new supply within the surrounding two-mile radius, RMR plan