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Phoenix Realty Looks to Growing Rental Market

AURORA, CO—Amenity improvements is a key part of the firm's investment strategy and is one of the reasons the firm was attracted to the 600-unit Chelsea Park Village here, which a smaller property might not have been able to support, a source tells GlobeSt.com.

By Natalie Dolce | Updated on December 02, 2014

AURORA, CO—New York-based Phoenix Realty Group has purchased Chelsea Park Village, a 600-unit multifamily property located at 11850 East Maple Ave. in Aurora, CO. “With its close proximity to Highway 225 and the expanded Denver RTD light rail system that will open in 2016, the property is situated in a key area with great potential to meet the expanding needs of the market,” says Keith Rosenthal, president of PRG.

While the purchase price could not be disclose at this time, Rosenthal tells GlobeSt.com that the firm’s “sweet spot is middle-income housing like this. Here, we have an opportunity to be hands-on and make improvements that both benefit our residents and create value over and above market growth.”

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