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DENVER-Principal Real Estate Investors of Des Moines on Tuesday says it has purchased the Archstone Riverfront Park apartment community in the Riverfront Park neighborhood in the Central Platte Valley. The community was developed by locally based Archstone Smith and represents the first luxury community in the area.

Principal Real Estate Investors is the real estate investment arm of Principal Global Investors, a member of the Principal Financial Group. Principal Real Estate Investors has changed the name of the property from Archstone Riverfront Park to the Station at Riverfront Park. A spokeswoman for Principal tells GlobeSt.com that it is the company's policy not to release the purchase price.

"We are excited to be expanding our Denver portfolio with this acquisition," says Morgan Deal, senior acquisition manager for Principal Real Estate Investors. "The Station at Riverfront Park represents a rare opportunity to acquire a high-quality apartment community in the heart of the Central Platte Valley. Riverfront Park is truly an urban, mixed-use neighborhood with employment, public transportation, nightlife, entertainment, recreation, and cultural attractions all within walking distance."