Watermark Residential Sells Class A Multifamily Community in Denver

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Jun 16, 2021, 09:00 ET

DENVER, June 16, 2021 /PRNewswire/ -- Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation's leading multifamily developers, announced today the completed sale of Haven by Watermark, a 206-unit Class A multifamily community in Denver's master planned community of Green Valley Ranch. Blackstone Group acquired the property for an undisclosed amount.

"Our defined process and integrated team structure allow us to develop, stabilize and sell communities for attractive returns," said Josh Purvis, managing partner of Watermark Residential. "The leasing and investor interest in Haven by Watermark further affirms Watermark's ability to deliver sought-after communities based on style, convenience and luxury."

Haven by Watermark is located at 18400 Elmendorf Drive. Completed in 2020, the 97% leased community features an e-Urban® design that is 30% more efficient and utilizes 30% less materials than traditional design. The spacious one- and two-bedroom apartment homes are stylishly appointed with vinyl plank-style flooring, a 9' kitchen island, granite countertops, energy-efficient stainless steel kitchen appliances and walk-in closets. Residents enjoy top-notch community amenities including fitness center with Peloton and TRX; elevator; a resort style pool and spa with grills, cabanas and outdoor kitchen; a fully equipped clubhouse, game room, karaoke room, focus room; and a "doggie spaw".

The community is strategically located north of Interstate 70 and Pena Boulevard, the primary link to Denver International Airport. Commuting residents are within walking distance of Pena Station RTD, providing a direct link to the airport as well as the area's major employers, including Buckley Air Force Base, the University of Colorado Anschutz Medical Campus, Raytheon, Kaiser Permanente and Gateway Park. Highly rated public and charter schools along with nearby dining, entertainment and shopping options punctuate the property's attractiveness.

Watermark Residential is a national leader in the development, construction and management of upscale multifamily communities and luxury leased housing. Other Colorado interests include communities in Longmont and Parker and properties under development in Colorado Springs and Castle Pines.

Dan Woodward, David Potarf, Matthew Barnett and Jake Young with CBRE Capital Markets represented Watermark on the sale.

About Watermark Residential
A wholly owned affiliate of Thompson Thrift, Watermark Residential is a national leader in the development, construction, and management of upscale multifamily communities. Since its founding in 2008, Watermark has become a nationally recognized multifamily development and residential management company. Watermark communities epitomize the company's commitment to quality and value, while exhibiting meticulous attention to detail. The company has developed more than 13,000 units across 19 states. With deep knowledge of each market entered and a methodical vision, Watermark is proud to develop communities that offer residents luxurious, convenient lifestyle. For more information, please visit www.watermarkapartments.com.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Ind., Houston, and Phoenix. Three business units drive Thompson Thrift's success— Watermark Residential which is focused on Class A multifamily communities and luxury leased homes, upscale townhome-style living; Thompson Thrift Retail Group which is focused on ground-up commercial development; and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift's over 400 employees are engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customers' success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com.

Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift