The Praedium Group Acquires Helios Apartments in Denver, CO for $69.9 Million
December 21, 2016
NEW YORK, NY – DECEMBER 19, 2016 – The Praedium Group, a New York City-based national real estate investment firm, today announced the $69.9 million acquisition of Helios Apartments in Englewood, CO, just 20 minutes from downtown Denver. The 258-unit multifamily property is centrally located in the Denver Tech Center, the largest employment center in metropolitan Denver. Less than one-mile from the Belleview Light Rail Station, the property offers residents convenient access to the Belleview Promenade as well as many other notable retail outlets and restaurants. Constructed in 2015, the asset consists of one, five-story building. The community features a pool with landscaped sun-decks, outdoor living area with a fireplace and gas grills, a dog run, and a state-of-the-art fitness center. Apartments offer 9’ and 10’ ceilings, wood-vinyl plank flooring, washers and dryers, granite counters, stainless and black appliances, and gourmet kitchens with islands. Select units offer private patios and balconies.
“The Denver Tech Center Business Corridor is home to approximately 200,000 jobs and currently has over 1.2 million square feet of office space either under construction or in the planning stage, said Lindsay Schuckman, associate for The Praedium Group. In addition, “Denver’s entire mass transit system is undergoing a $6.5 million build-out, adding 122 miles of rail along six new lines,” added Schuckman.
Recent expansions and relocations in the area include TopGolf International, which opened a 65,000 square-foot facility in Centennial in February 2016, and the 578-acre Anschutz Medical Campus and Fitzsimmons Innovation Campus, a $5.2 billion project expected to bring 43,000 new employees just 15 minutes from Helios.
ABOUT THE PRAEDIUM GROUP
The Praedium Group is a privately-held real estate investment firm focusing on under-performing and undervalued assets throughout the United States. The Praedium Group was formed in 1991 and since inception has completed over 350 transactions representing approximately $10 billion of capital, including 73,000 multifamily units and nearly 44 million square feet of commercial space. Over the past 25 years, The Praedium Group has sponsored a series of eight private equity funds, as well as several separate investment vehicles. The commingled funds and separate accounts sponsored by The Praedium Group have attracted investors that include public and corporate pension funds, financial institutions, insurance companies, foundations and endowments. For more information, please visit www.praediumgroup.com
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