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TRANSWESTERN INVESTMENT GROUP AND TRAMMELL CROW RESIDENTIAL SELL 164-UNIT MULTIFAMILY COMMUNITY IN DENVER
(DEC. 10, 2020 – DENVER) – Transwestern Investment Group (TIG®) and Trammell Crow Residential (TCR), the multifamily development company of Crow Holdings, announce the sale of Alexan Cherry Creek, a recently completed, 164-unit apartment community in the highly coveted Cherry Creek submarket of Denver.
“We partnered with Trammell Crow Residential on this development, which executed flawlessly on the design and construction, as evidenced by the rents this project is able to demand in the marketplace,” said Clarke Crenshaw, Managing Director at TIG. “After a successful lease-up, we engaged JLL to market this asset for disposition. Due to the quality of this community, coupled with a Cherry Creek address, there was strong interest from the investment community.”
Alexan Cherry Creek represents one of the few true core assets that has been brought to the market this year in Denver. The community offers residents gourmet kitchens with stainless steel appliances, ceramic tile backsplash, quartz countertops, designer bathrooms, walk-in closets and spacious bedrooms. The state-of-the-art amenities include a resort-style pool and spa, media room and rooftop sundeck.
Denver’s vibrant, walkable Cherry Creek neighborhood is the epicenter of luxury living due to the mixture of retail, fine dining, hotel accommodations, and high-end residences. The average household income within a 1-mile radius of the property is nearly $200,000, with 79% of residents having earned a bachelor’s degree or higher and 87% working in white-collar occupations.
The JLL Capital Markets team representing the seller was Jordan Robbins and Pam Koster.
ABOUT TRANSWESTERN INVESTMENT GROUP
Transwestern Investment Group (TIG®) is a real estate investment adviser with $4.6 billion of assets under management as of year-end 2019. Part of the Transwestern companies, the firm serves a broad range of clients through a diversified array of discretionary and non-discretionary investment vehicles.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.
ABOUT TRAMMELL CROW RESIDENTIAL
Trammell Crow Residential (TCR) is a national multifamily real estate developer with 11 regional offices. For over 40 years, Trammell Crow Residential has been developing premier, amenity-rich multifamily communities and has delivered more than 250,000 residences in economically thriving locations. TCR, Crow Holdings Industrial (CHI) and Crow Holdings Office (CHO) are the development platform of Crow Holdings, a privately owned real estate investment and development firm with a 70-year history and a strong track record of performance, partnership and innovation. For more information, please visit www.crowholdings.com/tcr.