Garden-style Lowry apartments fetch $20M

The Stratford at Lowry apartment complex at 425 S. Galena Way sold last week for $20.75 million. (Burl Rolett)

The Stratford at Lowry apartment complex at 425 S. Galena Way sold last week for $20.75 million. (Burl Rolett)

A local real estate company has landed an eight-figure apartment deal just south of Lowry.

Greenwood Village-based Vukota Capital Management bought the Stratford at Lowry apartment complex at 425 S. Galena Way last week for $20.75 million, Denver city records show. The garden-style apartment building has 142 units between eight buildings, pegging the price at about $146,000 per door.

Stratford at Lowry covers about 5.5 acres just south of Alameda Avenue bounded by Dakota Avenue, Galena Way and Virginia Avenue. The property was developed in 1979 and rents studios, one- and two-bedroom apartments.

An onsite leasing representative said the 710-square-foot one-bedrooms rent for about $1,000 a month. The representative quoted a currently available, 1,000-square-foot two-bedroom apartment at $1,200. The complex also includes a small outdoor playground and basketball court.

An entity sharing an address with San Francisco’s Jackson Square Properties office sold Stratford at Lowry in the Sept. 30 deal. That company owned the building for only about 18 months, after buying it in February 2015 for $15.25 million.

Vukota Capital Management lists a portfolio of about 350 Denver apartments on its website, with several more apartment complexes in Colorado Springs and a couple of commercial properties in Las Vegas.

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