DENVER, CO - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently brokered the sale of 15th and Little Raven, a +/- 2.19 acre infill site located at 1550 Little Raven Street & 2101 15th Street in downtown Denver Colorado, just west of the Union Station redevelopment. ARA Colorado Principals, Steve O’Dell and Chris Cowan, represented the seller, The Balfour Cosmopolitan Club, L.L.C., in the disposition. The buyer was AEW Senior Housing Investors, L.P., a real estate fund managed by AEW Capital Management, a Boston-based real estate investment advisor.
“15th & Little Raven is arguably one of the best pieces of real estate downtown. Balfour has had a long relationship with this site and we are excited that their vision is closer to becoming a reality,” said Chris Cowan.
Nestled within the fashionable Riverfront Park neighborhood and one block from the Union Station Redevelopment, 15th & Little Raven is one of the few remaining raw multifamily sites zoned for senior housing in downtown Denver. Riverfront Park is a dynamic neighborhood that has evolved into the place to be in downtown. The property provides unparalleled access to downtown Denver via the Millennium Bridge and is surrounded by boutique restaurants, retail and top-quality for-sale residences. Additionally, this neighborhood was recently awarded the 2011 ULI “Award for Excellence” and has been awarded the prestigious “Community of the Year” Bar Award by the Home Builder’s Association of Metro Denver. The Riverfront Park area offers over 300 restaurants, boutiques, and shops in the immediate vicinity and the site is adjacent to the 23-acre Commons Park, the largest green space in downtown Denver.
Steve O’Dell added, “Commons Park is the number one residential amenity in all of downtown Denver. Not only is 15th & Little Raven across the park, but it is also just one block from Union Station and the 16th Street Mall shuttle creating a stellar transit-oriented development location.”
To schedule an interview with an ARA executive regarding this transaction, please contact Lisa Robinson at lrobinson@ARAusa.com or 678.553.9360, or Amy Morris at amorris@arausa.com or 678.553.9366; locally, Steve O’Dell at odell@ARAusa.com, or Chris Cowan at cowan@ARAusa.com, or 303.260.4400.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.5 billion in real estate transactions since 2005. For detailed information on ARA’s extensive multihousing investment services, visit www.ARAusa.com
About AEW
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage $33 billion of capital invested in over $47 billion of property and securities in North America, Europe and Asia (as of December 31, 2011). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com