BEVERLY HILLS, Calif., March 6, 2017 /PRNewswire/ -- Triumph Properties Group has acquired Villas at Holly, a 144 unit apartment community, located in Centennial, Colorado. The $26,250,000 acquisition is Triumph's first in the Denver market. The property will continue to be improved via unit interior upgrades and exterior and common area additions. The Villas at Holly transaction was closed on an all cash basis in 37 days.
Located on the corner of Arapahoe Road and Holly Street, the property benefits from excellent drive by visibility. Median income within a 1 mile radius exceeds $90,000.
"We like Denver over the long term, and Villas at Holly presented us with an opportunity to gain entry into a high-quality submarket at attractive relative pricing and a clear opportunity to increase income by improving unit interiors," said Will Roos, Triumph's Director of Acquisitions.
Triumph is continuing to expand its acquisition platform with $150-$200Million in acquisitions targeted over the next 12 months. Based in Beverly Hills, California, Triumph combines the flexibility and responsiveness of an efficiently managed firm with a strong balance sheet, generated by a half-century of superior risk-adjusted returns. As a long-term owner and investor, Triumph Properties Group is dedicated to identifying unrealized opportunities and maximizing value in its growing portfolio, which is focused on well-located market-rate and senior-living communities with repositioning opportunities through value-add renovations and management upside. Triumph's portfolio includes approximately 2,000 multifamily units, approximately 1,000,000 square feet of commercial properties, and various development sites around the country.
Triumph is currently seeking multifamily properties across all major US Markets. General acquisitions criteria include:
- 100+ Units
- $15-$100Million+ Deal Size
- All Major Regions including: Western, Pacific Northwest, Southwest, Midwest, Southeast
- Solid A/B submarket locations
- Prefer 1980s and newer vintage
For deal submittals or more information about Triumph please contact:
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SOURCE Triumph Properties Group