With one apartment building rising on Broadway and another freshly opened in RiNo, a Denver real estate firm is buying into the Golden Triangle.
Simpson Housing bought The Boulevard apartment complex at 150 W. Ninth Ave. in September for $85.65 million.
“It’s a very vibrant area that we think is going to get better and better,” said Mark Peppercorn, Simpson Housing vice president of acquisitions and dispositions. “It’s very close in, by a bunch of great restaurants and great things to do – it’s just a very good area.”
Denver-based Simpson Housing bought the 290-unit property from New York-based Sentinel Real Estate Corp. Sentinel has owned the property since 2006, when it bought the Boulevard property from developer The Hanover Co. for $75.5 million.
A 1,327-square-foot, two-bedroom unit at the building rents for $2,114 per month.
The Boulevard makes at least three Denver apartment complexes for Simpson Housing. The company recently opened Hartley Flats, a 165-apartment building on Walnut Street in River North. Simpson is also an equity partner in the Skyhouse Denver tower rising at Broadway and 18th Avenue.