RiNo apartment complex sells for $91M

The Marq at RiNo 2

The Marq at RiNo, a 300-unit apartment complex, sold for $90.6 million. The complex is being rebranded as Waterford RiNo. (Thomas Gounley)

An apartment complex in RiNo has sold for $90.6 million, a 25 percent gain in three years.

The Marq at RiNo, a 300-unit complex at 2797 Wewatta Way built in 2012, was purchased by Waterford RiNo LLC, according to county records.

The sale price works out to $302,000 a unit.

The purchasing entity lists an address that matches that of Danville, California-based Braddock & Logan Homes. A portfolio on the company’s website lists apartment complexes only in California and Washington state, but Braddock & Logan is familiar with Colorado, having previously purchased properties in Littleton and Glendale, according to media coverage.

The Marq at RiNo 1

The Marq at RiNo was built in 2012. (Thomas Gounley)

The property was sold by CWS Capital Partners, which purchased it in June 2015 for $72.5 million. Terrance Hunt and Shane Osment of Newmark Knight Frank represented the seller.

The complex, which was built by Austin-based Argyle Residential, is being rebranded as Waterford RiNo.

The Crossing at Denargo Market apartment complex across the street, also built by Argyle, sold last year for $89 million, or $277,258 a unit. And Argyle has proposed building another complex with more than 300 units nearby.

The Marq at RiNo 2

The Marq at RiNo, a 300-unit apartment…

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