LOS ANGELES – July 20, 2017 – A fund advised by CBRE Global Investors has acquired Viridian at The Gardens on Havana, a recently constructed 227-unit garden-style Class A apartment community in the Denver area that is almost 95 percent occupied.
The nine-building property is located at 10901 East Garden Drive in Aurora, Colorado, a commuter-friendly submarket of Denver between the metro area’s largest employment hubs. Viridian is two miles from a light-rail station scheduled to open later this year that will improve the submarket’s connectivity and is adjacent to the 500,000 square foot Gardens on Havana Shopping Center.
Viridian offers luxury one, two, and three bedroom floorplans as well as two-level townhomes. Contemporary unit finishes include granite countertops, stainless steel appliances and nine-foot ceilings. Community amenities include a state-of-the-art fitness center, resort-style swimming pool with a fire pit and clubhouse featuring a gourmet kitchen and coffee bar.
“Job growth in Denver has been outpacing the U.S., and we believe the rapidly growing, highly skilled labor force and diversified economy, including a vibrant tech industry, will keep the metro a national leader,” said Kim Hourihan, Portfolio Manager, CBRE Global Investors. “Given this neighborhood’s convenient accessibility, retail amenities and good schools, there is strong demand for housing at Viridian, and walkability to the retail and restaurant amenities of the Gardens on Havana Shopping Center is a significant differentiator relative to the competitive set.”
“With the installation of a best-in-class leasing team, the implementation of our Inspired Lifestyle tenant amenity program, and a proactive capital program to maintain the market-leading asset quality, we expect Viridian will continue to attract an impressive resident profile,” said Ben Green, Senior Director, CBRE Global Investors Americas.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.