Griffis Residential Acquires 264-Unit Remington West Apartments in Colorado for $44.3 million

WESTMINSTER, CO - Griffis Residential, a Denver-based multifamily investment and management firm, announced today that it has acquired the Remington West Apartments in Westminster, Colorado for $44.3 million. The 264-unit acquisition brings the number of apartment units that Griffis Residential owns and manages in Colorado, Nevada and Texas to 5,670.

Effective immediately, Remington West Apartments has been renamed Griffis Westminster Center to reflect the community’s proximity to the pending transformation of the former Westminster Mall into a vibrant, mixed-use urban downtown hub in the heart of Westminster. For community and leasing information please visit GriffisWestminsterCenter.com.

“Griffis Westminster Center holds tremendous promise within the Griffis Residential multifamily portfolio,” said Griffis Residential CEO David Birnbaum. “With close proximity to the emerging Bus Rapid Transit System and the Westminster Center redevelopment project, we believe the community will be in high demand among Westminster’s well-educated workforce for years to come. When these positive property attributes are combined with planned property improvements and our management initiatives, Griffis Westminster Center will be in a prime position to drive superior financial results over the long term.”

Built in 1996, Griffis Westminster Center is a Class-A apartment community in Westminster, Colorado located west of CO Interstate 25 on West 90th Avenue. With its convenient location near Denver’s Northwest Corridor along US Highway 36, Griffis Westminster Center is ideally situated among the highest concentration of software, computer, technology and photonics companies in the US. The garden-style property offers six floor plans, from one- to three-bedrooms, ranging in size from 672 to 1,180 square feet. The community offers high-end amenities including a clubhouse, business center, fitness center, media room, and a heated pool and spa amid an advantageous location in a park like setting.