CBRE announced the sale of Modera Cap Hill, a 197-unit, eight-story Class A apartment community in Denver.
Dan Woodward, David Potarf, Matthew Barnett and Jake Young with CBRE arranged the sale on behalf of the seller, Dallas-based Mill Creek Residential.
“Modera Cap Hill presented an opportunity to acquire a well-performing asset in one of the strongest multifamily markets in the country. The community’s location in proximity to the central business district and the area’s best amenities and attractions resulted in significant investor interest,” said Mr. Woodward. “Central Denver is positioned to emerge as a long-term beneficiary of pandemic-driven demographic shifts as companies diversify the geography of their hiring and residents are drawn to Colorado’s quality of life.”
Located at 1200 Grant Street, Modera Cap Hill is within Denver’s Capitol Hill neighborhood. With a WalkScore of 96, the property is accessible to Denver’s central business district and the area’s top retail, restaurant, entertainment and cultural amenities, including the 16th Street Mall, the Golden Triangle Creative District, all three professional sports venues, Cheesman Park and the Denver Botanic Gardens.
Modera Cap Hill was built in 2019 and features studio, one- and two-bedroom floorplans averaging 782 square feet. Units include private patios or balconies, high ceilings and premium finishes. Community amenities include a fitness studio and yoga room, pet spa, bike storage, electric car charging stations, controlled-access garage parking, rooftop lounge and sundeck, and an elevated pool deck with mountain views.
