Watermark Residential has sold Dayton Station, a 63-unit luxury leased townhome community in the coveted Cherry Creek community of Aurora, Colo. RedPeak acquired the property for $33.5 million.
“Denver continues to be a difficult market within which to buy a home, and there is an increasing amount of renters-by-choice who want to enjoy the single-family lifestyle without maintenance hassles,” said Josh Purvis, managing partner of Watermark Residential. “Our thorough process for identifying markets that are prime for institutional-grade, for-rent communities continues to have us deliver attractive returns to our investors.”
This was Watermark’s first solely townhome development, and the firm designed the 12 three-story buildings to live like single-family homes. Each private-entry townhome offers spacious three- or four-bedroom layouts complete with two-car garages, ample storage and premium interior finishes, including gourmet bar-kitchens with quartz counter
