DENVER, CO - BMC Investments (BMC), a Denver-based, fully-integrated real estate investment company, announced today that it has commenced construction on Canyonside Apartments, a new, 325-unit multifamily community located within Canyonside at Castle Pines, the mixed-use neighborhood within the Canyons master planned community in Castle Pines, a suburb of Denver, Colorado. The property will be one of the only rental options in the community.
“Canyonside Apartments is just the first in our broader Suburban Attainable Housing strategy focused on development of build-to-rent multifamily, single-family and townhomes in a master-planned community setting,” said Jeff Stonger, Chief Investment Officer of BMC Investments. “We have in excess of $1B in the pipeline for this platform and are excited to execute on this together with our partner, Rockpoint.”
BMC Investments’ partner on the project is Rockpoint, a premier real estate private equity firm headquartered in Boston with additional offices in San Francisco, Dallas and London. The project kicks off a larger programmatic partnership between BMC and Rockpoint focused on BMC’s Suburban Attainable Housing strategy.
Thoughtfully designed with a Modern Agrarian aesthetic, the Canyonside Apartments community offers a fresh interpretation of the Colorado Homestead seamlessly integrating with the surrounding residential neighborhood and celebrating a connection to nature. The multifamily community will consist of 14 three- and four-story apartment buildings offering one-, two- and three-bedroom residences featuring high-end finishes and smart technology. Amenities include a clubhouse; spacious fitness center with dedicated yoga studio; flexible work from home spaces; a pet spa and dog park; private bicycle storage; and a resident bike and ski repair room – all surrounding a stunning resort-style pool and private pool house with indoor and outdoor entertaining space.
“With top of market finishes, robust amenities, and thoughtful integration of the outdoor space, Canyonside Apartments will provide an unrivaled living experience in south suburban Denver,” said Stonger. “Canyonside Apartments will cater to those seeking reprieve from more densely populated urban locations, specifically families seeking access to high-quality education, young professionals that crave Colorado’s celebrated outdoor lifestyle, and empty nesters looking for more space within a peaceful setting.”
The community is located 20 minutes from the Colorado Foothills, 10 minutes to DTC, and is within minutes of shopping, dining and entertainment options for residents. The apartments – and the broader master planned community – highlight Colorado’s celebrated outdoor lifestyle and features direct access to an extensive 30-mile trail network as well as Reuter-Hess Reservoir which allows fishing, kayaking, camping, swimming and more.
“We are proud to have the distinctive BMC/Rockpoint team implementing the first high quality rental development project within Canyonside at Castle Pines,” said Mary Hart, Project Coordinator for North Canyons Development Company, the land seller.
Lead architect for Canyonside Apartments is Craine Architecture with construction being handled by Crossland Construction Company. Landscape architecture is being performed by Sage Design Group and interior design by Style Works. The Canyonside Apartments are expected to deliver in summer 2023.
About BMC Investments: BMC Investments (“BMC”) is a highly disciplined, vertically integrated real estate investment firm generating industry-leading returns through acquisition, development and management of various property types throughout the U.S. BMC focuses its investment strategy on creating long-term value in its assets and generating strong risk-adjusted returns. The company is able to outperform its peers by procuring attractive investments in its areas of focus; utilizing a measured and disciplined investment process with rigorous focus on risk management; leveraging best-in-class operating systems and processes; and attracting, retaining and developing great people. To learn more, visit www.bmcinv.com
About Rockpoint: Rockpoint Group, L.L.C. (“Rockpoint”) is a real estate private equity firm headquartered in Boston and with additional primary offices in San Francisco, Dallas and London. Rockpoint employs a fundamental value approach to investing and targets select product types located in major markets in the United States. Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs. Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations. Since 1994, Rockpoint’s co-founders with others have sponsored 15 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm. In total, they have raised approximately $25 billion in capital commitments and invested or committed to invest in 435 transactions with a total peak capitalization of approximately $65 billion (inclusive of fund equity, co-investor equity and debt). To learn more about Rockpoint Group, visit www.rockpoint.com