AURORA, CO – Privately-held real estate investment firm 29th Street Capital (29SC), has bought Parq at Iliff Station, a 424-unit, Class A+ luxury apartment community located in the Southeast Aurora submarket of Denver, for $134 million. Parq is 29SC s 11th multifamily acquisition in the Denver area, totaling nearly 1,500 units. Haven Residential, 29SC s in-house property management group, will manage the community.
29SC, which has primarily focused on value-add multifamily acquisitions, has launched a core plus strategy focusing on newer, larger and higher-quality assets where an additional upside can be captured through management efficiencies, energy savings programs and improving market conditions. Parq represents 29SC s first acquisition of this size and scale, marking the firm s entry in into the core plus market.
Our proven track-record and bolt-on acquisition approach is what allows us to step up to projects of this caliber, said 29SC Managing Principal Robb Bollhoffer. He continued, We are able to provide improved service to the community and as a result, additional value to both our residents and investors.
Built in 2018, Parq offers spacious units and luxury amenities. 29SC s improvement plot includes new smart-home technology packages, upgrading interior finishes and adding additional amenities throughout the community.
The Southeast Business Corridor of the Aurora submarket gives residents convenient access to an abundance of high paying jobs across a variety of industries, said Rob Gersch, Senior Vice President of Acquisitions and Development for 29SC in Colorado and Utah. Consistently strong levels of population migration, a favorable income tax rate, and a diverse, highly-educated workforce are all contributing factors to Denver being one of the fastest-growing metropolitan cities in the mountain region.
Parq at Iliff Apartments is located at 2602 S. Anaheim Street in Aurora, 11 miles southeast of downtown Denver. Parq offers a convenient location for its residents, with direct access to the RTD Iliff Station, which allows simple access to downtown Denver, Denver International Airport, Fitzsimons Medical Campus, the Denver Tech Center and the entire Southeast Business Corridor.
The property was financed with a fixed rate life company loan arranged by Brian Eisendrath and Cameron Chalfant of CBRE. The transaction closed Thursday, June 3. The name of the seller was not released.
In the last year, 29SC has bought 18 conventional multifamily assets and over 4,000 units throughout the U.S. The firm continues to actively pursue additional opportunities, especially newer vintage and Class-A properties.

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CAMDEN, NJ – The Housing Authority of the City of Camden (HACC), along with its co-applicant, the City of Camden, has been awarded $35 million in Choice Neighborhood Implementation (CNI) funding for the transformation of Ablett Village, an obsolete public housing community located in the historic neighborhood of Cramer Hill. The Michaels Organization is HACC’s private sector housing partner for the comprehensive redevelopment, which includes 425 new affordable homes, community amenities and abundant green space.
“Ablett Village residents have been advocating for this community transformation, and now that transformation is becoming a reality,” said Michaels’ Vice President of Development Nicholas Cangelosi, Ablett Village’s lead developer. “We have extraordinary plans that include more than just bricks and mortar; they include robust supportive services for residents, as well job training, educational, and career development programs.”
U.S. HUD Secretary Marcia Fudge announced Camden’s CNI Award at an event held at Ablett Village on June 2.
“It’s moments like this that remind us what is possible when we come together as a team,” said Victor D. Figueroa, HACC Executive Director. “For years, HACC, the Cramer Hill community and our many partners have been working around a shared vision for a more equitable future in Ablett Village, one that especially benefits its residents with low to moderate incomes. And now with HUD’s generous support, including the Jobs Plus Program that has been in place at Ablett for three years this August, we are excited to place our carefully developed plot into action.”
The transformation plot includes four phases comprising 425 mixed-income homes for families and seniors, as well as health and wellness facilities, a fitness center, multipurpose rooms, recreation areas and facilities for community organizations. The largest phase will be constructed on the current Ablett Village site. The remaining phases will be constructed throughout the Cramer Hill community providing existing and current residents with tremendous access to the robust community amenities located throughout the Cramer Hill neighborhood.
All four phases will have a mix of incomes with units for returning Ablett Village residents, affordable units and units set aside for households with middle incomes.
Along with Michaels Development, other members of the development team include Michaels Management and Michaels Construction, along with Michaels supportive services partner, Better Tomorrows. Urban Practice is serving as the Architect. Construction on the first phase is anticipated to start approximately eight months from now.

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SEATTLE, WA – LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, announced the topping out of Ovation, a luxury two-tower high-rise and mixed-use apartment community located at the gateway to the First Hill neighborhood of Seattle.
The topping out symbolizes a milestone in the construction process for the 32-tale towers, which feature 548 apartment homes and 6,000 square feet of retail and office space. A new 9,000-square-foot outdoor public plaza offers access to Freeway Park and views of the city’s skyline.
The development landmark was recognized during an intimate East Tower celebration in May with representatives from LMC, JTM Construction, Perkins + Will, and equity partner QuadReal.
“This vital milestone at Ovation is meaningful for LMC, our partners and our neighbors who collaborated with us throughout the process and amid the challenges of the past year,” said Dan Shieder, vice president of development for LMC. “We’re excited about the progress, as well as what this cosmopolitan community will contribute to the character of First Hill neighborhood, and the unparalleled living experience it will deliver for future residents.”
Situated between Hubbell Place and 8th Avenue on Spring Street, Ovation carves a distinct silhouette in Seattle skyline and offers majestic views of Mt. Rainier to the south and the city to the west. The community is adjacent to the Central Business District and less than a 10-minute walk to both South Lake Union’s thriving tech sector and the vast entertainment options of Capitol Hill. Ovation, which boasts a Transit Score of 100 and a Walk Score of 97, shares the block with Town Hall, a historical cultural center and performance hall. Access to Interstate 5 and two major bus lines provide prime connectivity to key locales across the metropolitan area.
First Hill is one of Seattle’s original neighborhoods and contains a diverse mix of architecture, ranging from buildings constructed in the early 1900s to modern developments. The neighborhood is often referred to as “Pill Hill” due to its high concentration of healthcare services and medical facilities, including Virginia Mason Medical Center, Harborview Medical Center and Swedish Medical Center are within a 10-minute walk from the community site.
Ovation will consist of studio, one-, and two- bedroom homes, including two-tale penthouse layouts. Offering multiple floor plot and design schemes, along with oversized bedrooms, bathrooms and closets, Ovation has something to meet any taste or preference. It incorporates condo-quality finishes with specific emphasis on making livable spaces for those looking to go-up from entry apartments or downsize from single family homes. Select apartment homes come equipped with smart-home power window shades.
Community amenities will span 17,400 square feet and include a massive state-of-the-art fitness center, co-working spaces, movie room, pet spa and covered pet run and multiple resident lounges for entertaining large and small groups. In addition, two large rooftop amenity spaces will include a pool on the west tower and a Pacific Coast-inspired setting on the east tower conducive for children to explore and play. Both rooftops will feature outdoor fireplaces, grills and seating areas. Residents will also have access to bike stations with storage, wash and repair stations.
Ovation, which is projected to welcome its first residents in early 2022, is the latest community in LMC’s growing Seattle portfolio, joining Axle, Twenty20 Mad and Valdok.

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