DENVER, CO – San Diego-based Tower 16 Capital Partners, in partnership with Dune Real Estate Partners, has bought the Fairways at Lowry Apartments, a 450-unit multifamily project in Denver, Colorado. The property was bought from a private seller.
“We’re very excited about the acquisition of Fairways at Lowry. The project represents our first investment in the Denver MSA which we believe is poised for future rent growth due to the strong demand for workforce housing,” said Tower 16 co-founder Tyler Pruett. “We believe the city will continue to see strong job growth and in-migration of people from more expensive coastal markets seeking the high quality of life that Denver offers.”
While the project represents Tower 16’s first investment in Denver, the company has made similar moves into markets such as Las Vegas, Phoenix and the Inland Empire driven by market dynamics that support strong demand for workforce housing. Based on the market fundamentals in Denver, Tower 16 plans to buy a portfolio of 2,000 units in the next 18 months.
Tower 16 partnered with Dune Real Estate Partners in the acquisition of Fairways at Lowry, the first such joint venture between the two firms. “We believe strongly in the workforce housing market in Denver and are excited to partner with Tower 16 on the acquisition of Fairways at Lowry” said Aaron Greeno, partner and Head of West Coast investments for Dune.
Fairways at Lowry is located at 9913 E. 1st Avenue in Aurora, Colorado. The property is just minutes away from the Lowry master-plotted development and all the dining, shopping and recreation amenities the area has to offer. In addition, Fairways is only three miles from Interstate 225 and seven miles from Downtown Denver. The community consists of one & two-bedroom apartments with a large clubhouse, gym, swimming pool and playground. Tower 16 will be overseeing $6.8 million in upgrades and renovations to the property including modernized apartment unit upgrades, a new clubhouse, gym and updated pool area. The company will also be adding outdoor amenities including barbeques, seating, outdoor gaming and a sports court.
Real estate brokers Terrance Hunt and Shane Ozment of Newmark Night Frank represented both the buyer and seller in the transaction. Charlie Williams of Newmark coordinated debt financing for the buyer.

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HOUSTON, TX – The Venterra Development Division is currently overseeing the construction of two buildings, adding 48 apartment homes to Silverbrooke, a property in Stafford, Texas.
In January, Venterra Realty broke ground on this expansion project, using the four-acre space between Silverbrooke and its sister property, Shadowbrooke, to start construction of two new structures. As there was no land acquisition required, Venterra is able to provide attractive returns for investors with lower risk. The newly constructed buildings are matched to the existing structures to maintain a consistent aesthetic within the community. The onsite management team is currently pre-leasing the apartments, which are scheduled for completion in January 2021.
Silverbrooke is a Class A, garden-style property that was built in 2007 with 312 original units. Located at 1020 Brand Lane in Stafford, TX, the property is about 2 miles from Highway 59 and 20 miles southwest of downtown Houston.
“This construction project illustrates an exciting new chapter for Venterra, where we are able to leverage Venterra’s knowledge of market performance and capitalize on opportunities that will continue to strengthen the organization, provide stable returns, and contribute to economic growth,” said John Foresi, CEO of Venterra Realty.
The 48 new apartments, which consist of one and two bedroom layouts, as well as a one bedroom with office space, range from 750 sq. ft. to 1113 sq. ft., with rents starting between $1240 and $1620 per month. Each new apartment features stainless steel appliances, quartz countertops, wood plank vinyl floors, oversized closets, and first floor apartments offer fenced-in yards. These new apartments are also equipped with SMARTHOME features that allow residents to unlock their front door and control their thermostat via an app on their smart phone. Beside the new buildings, new amenities were added as well: a covered playground, covered seating areas, and a large dog park to add to the already existing swimming pool and fitness center.
“We are very excited to take the Venterra experience to the next level and design homes for our residents. Our Development Division works hand in hand with our Property Operations teams to plot apartments that meet the needs of today’s renters” added Andrew Stewart, Chairman of Venterra Realty.

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PHOENIX, AZ – Christopher Todd Communities, one of the nation’s leading innovators in the Build To Rent housing segment, continues to evolve to feed the apparent insatiable appetite for single-family rentals after consummating the sale of the largest Build To Rent property (by unit count) in the nation.
The buy of Christopher Todd Communities At Stadium, a 313-home community located in Phoenix, Ariz., was facilitated by Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC on behalf of an affiliate of The Inland Real Estate Group of Companies, Inc. The deal was brokered by NorthMarq’s President of Investment Sales Trevor Koskovich, Vice President Jesse Hudson, and Executive Vice President Bill Hahn.
“The investor appetite for the Built-To-Rent communities has exploded in the last two years, with Christopher Todd Communities leading the way. Not only are we seeing demand from institutional investors, we also have seen increasing interest from the lender community to bring capital to the sector,” said Koskovich.
NorthMarq also arranged the financing for the buy through its Fannie Mae relationship.
This community sale to Inland is the final component of a multi-community transaction announced in March of this year which included a total of five Christopher Todd Communities in the greater Phoenix metro area, with a combined 943 homes. These five communities were the first to be developed as the Company embarked on a path to disrupt the multi-family industry. All communities were developed and wholly owned by Christopher Todd Communities.
“We are so proud that all of our communities experience unprecedented high rent rates, even during the height of the pandemic,” said Todd Wood, CEO of Christopher Todd Communities.
Comprised of single-tale, single-family pet-friendly smart homes, the communities are less dense than typical multi-family, with no one above or below, the keyless door entry makes it simple to come and go with minimal touching of materials, and the private backyards give people the space to be socially distant, yet maintain a sense of connection. Resort-style amenities are included in every one of these gated communities.
As part of the sale, each community will retain the Christopher Todd Communities brand, bringing added value to this transaction.
“We have been extraordinarily grateful for the incredible demand our innovative rental product has commanded, both from the investor side as well as the consumer side, propelling our company. As a part of our national expansion we have announced that Greystar will assume management of two existing communities in the Phoenix area, with more communities potentially in the pipeline,” added Wood.

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