December 20, 2016

New York’s Praedium acquires south Denver apartment complex

A New York-based investment firm has purchased the 258-unit Helios apartment complex in south Denver for $70 million.

The Denver Business Journal reports that Houston-based Hines, which developed the property at 7901 E. Belleview Ave., sold it to The Praedium Group LLC. Hines completed construction on the property — located near the Denver Tech Center — in 2015. The DBJ reports that the property was 93 percent occupied.

A New York-based investment firm has purchased the 258-unit Helios apartment complex in south Denver for $70 million.

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The Denver Business Journal reports that Houston-based Hines, which developed the property at 7901 E. Belleview Ave., sold it to The Praedium Group LLC. Hines completed construction on the property — located near the Denver Tech Center — in 2015. The DBJ reports that the property was 93 percent occupied.

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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