Garden-style Lowry apartments fetch $20M

The Stratford at Lowry apartment complex at 425 S. Galena Way sold last week for $20.75 million. (Burl Rolett)

The Stratford at Lowry apartment complex at 425 S. Galena Way sold last week for $20.75 million. (Burl Rolett)

A local real estate company has landed an eight-figure apartment deal just south of Lowry.

Greenwood Village-based Vukota Capital Management bought the Stratford at Lowry apartment complex at 425 S. Galena Way last week for $20.75 million, Denver city records show. The garden-style apartment building has 142 units between eight buildings, pegging the price at about $146,000 per door.

Stratford at Lowry covers about 5.5 acres just south of Alameda Avenue bounded by Dakota Avenue, Galena Way and Virginia Avenue. The property was developed in 1979 and rents studios, one- and two-bedroom apartments.

An onsite leasing representative said the 710-square-foot one-bedrooms rent for about $1,000 a month. The representative quoted a currently available, 1,000-square-foot two-bedroom apartment at $1,200. The complex also includes a small outdoor playground and basketball court.

An entity sharing an address with San Francisco’s Jackson Square Properties office sold Stratford at Lowry in the Sept. 30 deal. That company owned the building for only about 18 months, after buying it in February 2015 for $15.25 million.

Vukota Capital Management lists a portfolio of about 350 Denver apartments on its website, with several more apartment complexes in Colorado Springs and a couple of commercial properties in Las Vegas.

The Stratford at Lowry apartment complex at 425 S. Galena Way sold last week for $20.75 million. (Burl Rolett)

The Stratford at Lowry apartment complex at 425 S. Galena Way sold last week for $20.75 million. (Burl Rolett)

A local real estate company has landed an eight-figure apartment deal just south of Lowry.

Greenwood Village-based Vukota Capital Management bought the Stratford at Lowry apartment complex at 425 S. Galena Way last week for $20.75 million, Denver city records show. The garden-style apartment building has 142 units between eight buildings, pegging the price at about $146,000 per door.

Stratford at Lowry covers about 5.5 acres just south of Alameda Avenue bounded by Dakota Avenue, Galena Way and Virginia Avenue. The property was developed in 1979 and rents studios, one- and two-bedroom apartments.

An onsite leasing representative said the 710-square-foot one-bedrooms rent for about $1,000 a month. The representative quoted a currently available, 1,000-square-foot two-bedroom apartment at $1,200. The complex also includes a small outdoor playground and basketball court.

An entity sharing an address with San Francisco’s Jackson Square Properties office sold Stratford at Lowry in the Sept. 30 deal. That company owned the building for only about 18 months, after buying it in February 2015 for $15.25 million.

Vukota Capital Management lists a portfolio of about 350 Denver apartments on its website, with several more apartment complexes in Colorado Springs and a couple of commercial properties in Las Vegas.

This story is for our paid subscribers only. Please become one of the thousands of BusinessDen members today!

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate

Editor's Picks

Leave a Reply

Your email address will not be published. Required fields are marked *