San Francisco, CA – (August 21, 2018) GID announced today that it has acquired Alta Pinehurst, a 350 unit apartment community located in Lakewood, Colorado, a suburb of Denver. Pinehurst is one of six assets acquired by GID as part of the nationwide Elite Apartment Portfolio transaction. Lakewood is located on the west side of Denver, providing better access to the area’s mountains, lakes and many outdoor recreational activities. This location benefits from close proximity to multiple employment centers including Downtown Denver, The Denver Tech Center and The Denver Federal Center.
Completed in 2018, the garden-style property is comprised of fourteen residential buildings. The community features a swimming pool, clubhouse with a conference room, a fitness center and a cyber café. The property also offers a scenic overlook with an outdoor fireplace and grilling station, large dog park, dog wash and a bike & ski repair shop. Unit finishes consist of stainless steel appliances, white quartz countertops, tile backsplash, under mount sinks and plank flooring in the living areas. Ceiling heights are a minimum of nine feet with ten foot ceilings in all ground floor units.
“Alta Pinehurst has an attractive low density design which is enhanced by the topography of the site,” commented Matt Stuart, Senior Vice President and Director of Western Region Acquisitions for GID. “The varied building elevations afford residents appealing views including some of the adjacent golf course, the Denver skyline and the mountains. Pinehurst’s performance should benefit from the lack of competition due to limited planned apartment construction in the submarket.”