DENVER – May 21, 2021 – CBRE Global Investors, on behalf of a separate account client, has acquired a residential community in the Denver suburb of Aurora, Colo. The asset, known as Fletcher Southlands, is a Class A garden-style apartment community that includes 320 units.
Fletcher Southlands offers a mix of one-, two-, three-, and four-bedroom units that benefit from large floor plans. Apartments feature nine-foot ceiling heights, stainless-steel appliances, private outdoor patios, in-unit washers and dryers, large walk-in closets and fireplaces in select layouts. The resident amenity collection has been fully modernized and features a heated outdoor pool and lounge area; a dog park and dog wash; a sun deck and picnic areas; a renovated fitness center and a basketball court; outdoor grills and a fire pit area; a playground; an indoor game room; and package lockers.
“Fletcher Southlands is a high-quality asset in a suburb of Denver that has access to excellent schools and we believe will continue to attract new renters as the hybrid remote/office work environment continues to take form in a post-pandemic world,” said Michael Gallagher, Senior Director of CBRE Global Investors. “The Asset’s large, functional floorplans and unit mix that includes four-bedroom floorplans differentiate the Asset from the competitive set and attract a variety of residents to the property. We look forward to capitalizing on the previous owner’s renovation program by implementing our propriety A&B tenant experience program and continuing to renovate the remaining classic units to better compete with new construction in the market.”
Fletcher Southlands is situated on a low-density site in Southeast Aurora that is part of a desirable, commuter-friendly suburb that benefits from Colorado’s #1 public school district. The property is located less than one mile from I-470, Denver’s beltway that connects the community to the Denver International Airport (DIA), Buckley Air Force Base, the Denver Tech Center and other employment concentrations in the Southeast Business Corridor. The Asset’s low-density site, garden-style construction and open-air breezeways provide a quality residential setting and will remain desirable in the post-COVID-19 environment.
With this investment, CBRE Global Investors has a portfolio of nearly 900 multifamily units representing over $266M AUM in the Denver Metro area.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $124.5 billion in assets under management* as of March 31, 2020. 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:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments 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 assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.