Multi-Housing

Elevate at Pena Station

17507 East 61st Avenue Denver, CO United States 80239
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Asking Price Contact for pricing
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NOI Net Operating Income N/A
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Attributes

Year Built 2019
Occupancy 80.0 %

Property Description

With a combination of thoughtful design, luxurious, market-leading amenities, and sweeping mountain views, Elevate @ Peña Station is unique amongst its competitive set with tremendous renter demand illustrated by an average leasing velocity of 25 units per month, including 38 move-ins in August alone. A mere 10 minutes from Denver International Airport, Elevate @ Peña Station is well-positioned to attract the affluent renter pool rapidly gravitating to Denver’s hottest rental submarket.

Investment Highlights

Elevate @ Peña Station (“the Property”), a newly-constructed, 218-unit garden-style luxury apartment community located in Denver, CO, and the DIA submarket’s only true TOD apartment community. Since beginning its lease up efforts in March 2019, Elevate @ Peña Station has already achieved an overall occupancy rate of 89.9%. Elevate @ Peña Station represents the quintessential suburban TOD opportunity with the University of Colorado A-Line commuter rail situated adjacent to the Property. As noteworthy is that Elevate @ Peña Station is an important initial phase of the innovative Peña Station NEXT development, a 382-acre “smart city” prototype envisioned as the future of technologically integrated and sustainable mixed-use development. Upon build-out, Peña Station Next will feature 1.5 million square feet of office space, 500,000 square feet of retail, and over 2,500 residences designed to be the “smartest and most sustainable 382 acres in the country.”
Jordan Robbins
Jordan Robbins
Managing Director, Capital Markets
License details
CO-FA.40035669
Jonathan Polster
Analyst

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