DENVER-Earlier this month, we posted that The Orchard Town Center retail complex in Westminster, CO was sold for $123.5 million to Phoenix-based Vestar. In an update to that story, we chatted with David Larcher, EVP of Vestar, about why the firm believes in the Denver Market.
Larcher tells GlobeSt.com that “Denver is one of the top markets in the Mountain States which will experience continued economic growth.” The firm likes Denver, he adds, “because it has experienced job growth and housing values are at pre-recession peaks.”
Retailers are also attracted to the Denver market, Larcher explains.
“We believe that now is a good time to buy because we are through the worst part of the economic downturn and on the way to recovery,” he explains, adding that the firm would like to acquire additional value-add retail properties in the Denver market. “We also like Denver because it is one of the top growth markets for the younger population.”
Larcher also tells GlobeSt.com that the firm will continue to have a targeted aggressive acquisition strategy looking to acquire value-add retail properties in major metropolitan areas from Texas to California and up to Seattle. “We will acquire as many suitable properties that we find that meet our needs,” he says.
GlobeSt.com will continue to monitor and report on Vestar movement in the Denver area and other cities around the nation as information becomes available.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.