Gelt Buys $61M Apartment Community in Denver

Los Angeles-based Gelt has acquired Timber Lodge, a 390-unit apartment community in the Denver suburb of Thornton, from BMC. The property traded hands for BMC.

Built in 1972, Timber Lodge is situated on 12.59 acres and consists of 15 two-story buildings with basements. The unit mix includes 178 one-bedroom units and 202 two-bedroom units. On-site amenities include two swimming pools, fitness center, business center, playground, BBQ area, soccer field, dog park, and carports.

Terrance Hunt, Shane Ozment, Amanda Meldrum and MacKenzie Walker of Newmark Knight Frank represented Gelt, as well as the seller.