Aurora has caught the eye of a Florida apartment company.
Priderock Capital Partners bought the Highline Village apartments in Aurora last week for $71.3 million, according to Arapahoe County records. The 467-unit apartment complex sold for $152,675 per apartment.
Highline Village is the first Denver property Priderock has bought, said ARA Newmark listing broker Terrance Hunt, and the company is planning to invest more money in improvements onsite.
“Aurora is seeing good rent growth, and you’re still getting some benefit from the Fitzsimons campus [at Highline Village],” he said.
“They’ll add a clubhouse and some other amenities.”
Hunt handled the sale with fellow ARA broker Shane Ozment on behalf of seller The ConAm Group. ConAm bought the 23-acre property in 1991 for $11.4 million, county real estate records show.
Highline Village has 26 buildings, each three stories tall and measuring about 10,000 square feet. The complex was built in the mid 1980s.
The complex’s one-bedroom units are advertised at $960 and $1,030 per month. The two-bedroom apartments run between $1,105 and $1,205 per month.
Priderock Capital Partners did not return requests for comment by press time Monday. The only other apartment complex the company owns in Colorado, according to its website, is the Ironwood at Palmer Park community in Colorado Springs.