Multi-Housing

City Gate Apartment Homes

2890 Brighton Blvd Denver, CO United States 80216-5035
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 2003
Building Area
Land Area ()
Number of units 241

Property Description

THE OFFERING

JLL is pleased to present the exclusive listing of City Gate Apartment Homes

(“City Gate”), a 241-unit apartment community located in the heart of the

RiNo Arts District neighborhood, one of Denver’s most sought-after and

vibrant submarkets, just steps from countless employment and entertainment

options. Through a combination of thoughtful design, well-appointed partial

renovations to 85% of the units and a market-leading suite of amenities,

City Gate caters to an affluent renter pool drawn to the eclectic workspaces,

restaurants, bars and nightlife this RiNo neighborhood has to offer.


City Gate presents the opportunity to acquire a high-quality, 2003-vintage

Core-Plus asset with significant investor upside within Denver’s most talked

about submarket. This three and four story, wrap-style apartment community

is comprised of 206 (85%) partially renovated units that are achieving $150

premiums over classics, along with recently renovated community features

that separate City Gate from its competition. Through additional unit upgrades

and the expiration of 25 units with affordable rent restrictions that expire at

the end of 2022, there is additional income upside in the foreseeable future.


Residents at City Gate benefit from walkable access to over 140,000 jobs

and over 40M square feet of office space in Downtown Denver, along with

several highly publicized commercial developments currently taking place

throughout the RiNo submarket. With a central location in a niche, mixed-use

neighborhood, along with a complete suite of high-end amenities, City Gate

is well-positioned to attract active, affluent Coloradans seeking a unique

urban setting with immediate access to all that the RiNo Arts District has to

offer. Overall, the combination of City Gate’s unmatched location, attractive

historical operating performance, and proven value-add potential provides a

unique opportunity for potential investors.


Investment Highlights

CORE-PLUS ASSET WITH VALUE-ADD POTENTIAL

With a full complement of highly-amenitized common area spaces

and recently renovated unit interiors, City Gate has proven to be able

to compete with newer product in the RiNo submarket.


Active Coloradans


■ Bike Share Station Steps from the Front Door

■ Resort-Style Pool and Spa with Water Features

■ Fitness Facility with Machines and Free Weights


Discerning Renters

■ Newly-Renovated Clubhouse

■ Ultra-High-Speed Google Fiber Internet

■ Package Concierge

■ Resident Game Room

■ Meeting Rooms and Business Center

■ NEST Thermostats

■ NEST Thermostats

Last Updated Date: 02 Nov 2020
Jordan Robbins
Jordan Robbins
Managing Director, Capital Markets
License details
CO-FA.40035669
Pamela Koster
Pamela Koster
Managing Director, Capital Markets

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Last Updated Date: 02 Nov 2020

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