Glendale apartment complex sells for $108M

The apartment complex at 801 S. Cherry St. in Glendale sold for $108 million. (Thomas Gounley)

A Glendale apartment complex has changed hands.

Chicago-based AMLI Residential, acting as PPF AMLI 801 South Cherry Street LLC, purchased the complex at 801 S. Cherry St. on Dec. 27 for $108 million, according to county records.

The complex had been named Solana Cherry Creek, but now has been renamed AMLI Cherry Creek. It has 341 units, making the deal worth about $317,000 a unit. The complex was completed in 2016, and 92 percent leased at the time of sale.

The complex was developed and sold by California-based MKS Residential, which purchased the site in December 2012 for $10.95 million. The complex burned down once while under construction.

Terrance Hunt and Shane Ozment of Newmark Knight Frank represented the seller.

AMLI now owns 11 apartment complexes in the greater Denver area, according to its website, which indicates that one-bedroom rents at AMLI Cherry Creek start at about $1,400 a month.

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