LAKEWOOD, CO—Fowler Property Acquisitions has acquired Red Rocks I & II, a two-phased, 580-unit, garden-style community, from Fairfield Red Rocks LLC. The purchase price was $82.5 million.
Moran & Co. Mountain States regional partners, David Martin and Pamela Koster, represented the seller in the transaction. Red Rocks I & II is a two-phased garden-style community located in the Denver suburb of Lakewood, CO.
According to Martin, “Red Rocks I & II garnered a significant amount of attention, particularly from institutional buyers focused on implementing a value-add strategy.” Martin explains that, “the primary driver for this transaction was the ability to acquire an asset in the growing, yet very supply constrained market of Lakewood.”
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