Golden Triangle apartment property sold for $85M

The Boulevard apartment complex on Ninth Avenue recently changed ownership. Photo by Burl Rolett.

The Boulevard apartment complex on Ninth Avenue recently changed ownership. Photo by Burl Rolett.

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.

The Boulevard apartment complex on Ninth Avenue recently changed ownership. Photo by Burl Rolett.

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