L.A. based Orion Real Estate Partners (“Orion”) announced today that it has closed on the acquisition of Continental Court Apartments, a garden-style apartment community in Denver, Colorado. Orion purchased the 98-unit apartment community in January 2020 and plans to invest approximately $1.7mm in interior and exterior improvements. The Property is located in the South Denver/Englewood submarket, a Denver infill location with a Walk Score of 80 and close proximity to major employment hubs, entertainment, and transportation. In addition to being less than 15 minutes from downtown Denver, The Property has a favorable unit mix with 60% of the units comprising two- and three-bedroom units providing an attractive option to an underserved workforce renter population that has been priced out of other properties in the market. This is Orion’s sixth acquisition in the Denver MSA with a continued favorable long-term outlook on both job and population growth outpacing national averages. CBRE Multifamily Capital provided an attractive 10-year floating rate acquisition loan through Freddie Mac. Orion engaged Apartment Management Consultants (“AMC”) to provide property management services.
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Orion Real Estate Partners LLC (“Orion”) was founded by experienced real estate operators through the formation of a joint venture with an investment group comprised of highly respected business and investment managers to acquire $1.0 billion of real estate.
With offices in Los Angeles, Denver, and Austin, Orion identifies and manages multifamily investments throughout the Western United States with a focus on value-add, strong in-place cash flow assets.
Through a disciplined and institutional process, Orion leverages experience and local market knowledge to produce attractive risk-adjusted returns for investors.