Liberty Creek Apartments Trades

AURORA, CO—BMC Investments and Oak Coast Properties have spent $65 million to acquire Liberty Creek Apartments in Aurora. The multifamily property is strategically located in the Denver metropolitan area in a submarket boasting strong rental growth, lack of new rental supply and continued barriers to entry for new development. BMC and Oak Coast acquired the asset in an off-market deal and plan to invest approximately $3 million in an extensive property renovation and repositioning effort.

“This quality apartment acquisition brings our current Denver apartment portfolio to more than 1,000 units,” said Phillip Nahas, Oak Coast’s managing partner. “The asset offers strong upside potential, to be achieved in part through a multi-tiered property renovation aimed at improving the overall rental experience and maximizing rental rates.”