Denver Geothermal Apartments Sells for $72M

Summit Management has acquired The Elements at Prairie Center, a 100% geothermal apartment community in the Brighton suburb of Denver, from a partnership between C&A Cos. and Commonwealth Group for $72 million. The community is the second 100% geothermal-powered apartment complex in the submarket.

Elements at Prairie Center is a 288-unit apartment complex with a mix of one, two and three-bedroom floor plans totaling 264,579 rentable square feet on 15 acres. Community amenities include a resort-style outdoor swimming pool, off-leash dog park and fitness center.

CBRE’s Dan Woodward, David Potarf and Matthew Barnett represented the developer and seller in the deal.