DENVER—Waterton Associates LLC, a US real estate investor and operator, has completed the acquisition of The Apartments at Denver Place, a 193-unit high-rise apartment community located in downtown Denver. The community is the fifth property purchased by Chicago-based Waterton in 2014.

The Apartments at Denver Place is located within a larger mixed-use property known as Denver Place, which also includes a high-rise office building, a fitness facility and a controlled-access underground parking garage. The apartments are located in a 37-story mixed-use tower that contains 24 for-sale condominiums and a five-star Ritz-Carlton hotel on the first 14 floors of the building. Residents of The Apartments at Denver Place have access to the hotel's full suite of luxury amenities including the 9,000-square-foot Ritz-Carlton spa, as well as the newly renovated 68,000-square-foot TruFit Athletic Club.

“This is a very high-quality property with a unique opportunity to further improve the residential units, common areas and amenity spaces,” said Matt Masinter, senior vice president of acquisitions at Waterton. “We are very pleased to add Denver Place to our portfolio, as we see a lot of growth potential in this market and some great value-add upside at this property.”