LITTLETON, CO--(Marketwired - Jun 27, 2013) - Alta Aspen Grove, a 280-unit luxury garden-style apartment community in Littleton, Colo., has been sold by Wood Partners LLC to Boston-based Berkshire Property Advisors, a leading multifamily investment firm.
Wood Partners, one of the nation's largest and most active multifamily real estate firms, opened Alta Aspen Grove in June 2011 amid the start of an economic recovery in the Denver area that continues today.
Located on 17.5 acres at 7317 South Platte River Parkway in Littleton, Alta Aspen Grove was designed to be eco-friendly, transit-oriented and packed with high-end amenities.
The Denver office of Moran & Company represented Wood Partners in the sale.
"Alta Aspen Grove is one of the finest suburban multifamily properties in Denver," said David Martin, managing partner -- mountain states for Moran & Company. "It is LEED certified (first suburban multifamily deal to earn that designation in Denver) and has some of the best finishes to be found in suburban product."
The gated community of two- and three-story buildings offers one-, two- and three-bedroom floor plans ranging from 695 to 1,491 square feet. Units include granite countertops in kitchen and baths, washer and dryer, double-sided gas fireplaces in select homes, private patios and balconies, nine-foot ceilings and crown molding, walk-in closets and a resort-style pool with outdoor fireplace and lounge.
The community includes a fully-appointed clubhouse and a 24-hour fitness center. Its pet-friendly ambiance is exemplified by an onsite dog wash and bark park. It has direct access to the 660-acre Carson Nature Preserve with the Platte River running through it that connects with 120 miles of recreational trails.
Alta Aspen Grove is adjacent to the upscale Aspen Grove Shopping Center and is within easy walking distance of the light rail stop at Mineral Avenue and Santa Fe Drive, which offers convenient access to downtown Denver, and is only a 20-minute commute by car to both the city center and the Denver Tech Center. Historic downtown Littleton is just two miles from Alta Aspen Grove.
In keeping with Wood Partners' commitment to build environmentally friendly communities, the property is designed to meet the national ENERGY STAR® standards for efficiency and obtained the LEED Silver certification.
About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It was ranked the nation's No. 2 multifamily developer in 2012 based on 5,100 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 46,000 homes with a combined value of more than $6.8 billion nationwide. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach, Boston, Charlotte, Dallas, Denver, Houston, New York, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website at www.woodpartners.com
About Berkshire Property Advisors
Berkshire Property Advisors focuses on value added and opportunistic investments in the multifamily real estate industry. Since the company's inception in 1969, the firm has sponsored over 40 multifamily investment portfolios including seven discretionary, institutional multifamily equity funds, six multifamily mortgage funds, two publicly traded REITs, and multiple joint venture relationships with some of the most prominent real estate investors in the world. Berkshire also has sponsored one of the most prominent multifamily G.S.E. lenders in the United States. Additional information is available at www.berkshirepropertyadvisors.com.