{"id":1004084614,"date":"2013-10-02T20:30:07","date_gmt":"2013-10-03T04:30:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=191804"},"modified":"2020-05-11T03:53:31","modified_gmt":"2020-05-11T11:53:31","slug":"sares-regis-multifamily-fund-acquires-156-unit-value-add-property-in-denver","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sares-regis-multifamily-fund-acquires-156-unit-value-add-property-in-denver\/","title":{"rendered":"SARES-REGIS Multifamily Fund Acquires 156-Unit Value-Add Property in Denver"},"content":{"rendered":"

By Gabriel Circiog, Associate Editor<\/em><\/p>\n

\"\"<\/a>SARES-REGIS Multifamily Fund L.P. recently announced it has acquired Arabella, a 156-unit apartment community in Denver, Colorado, from Fairfield Properties.<\/p>\n

Located at 4982 South Ulster Street, Arabella is situated in the center of the Denver Tech Center, an 850-acre business hub south of downtown which features over 25 million square feet of office and retail development.<\/p>\n

\u201cDenver is among the nation’s top markets for housing and rent growth, and Arabella will benefit from the substantial upgrades that are planned, the first since it was built in 1980,\u201d Bill Montgomery, the fund\u2019s co-chief investment officers, says. \u201cOver the years it’s become a fish out of water compared to the surrounding metropolis. Our renovation program will enable Arabella to take advantage of its prime location.\u201d<\/p>\n

Arabella features a mix of studio, one- and two-bedroom apartments in three-story garden-style buildings. The community features numerous amenities including a fitness center, a swimming pool and a resident business center.<\/p>\n

As stated by Montgomery, numerous improvements are planned across the property. These will include adding washers and dryers to 42 apartments, ground-level patio expansions, landscaping improvements, and renovation of common areas. Arabella will also benefit from the addition of a spa, an outdoor kitchen\/barbeque area and a dog-washing station.<\/p>\n

\u201cThis is a significant renovation project needed to reposition Arabella to compete in its submarket,\u201d Montgomery added. \u201cWe are confident that with the work completed and a solid new management team in place we will be able to achieve a significant return on cost for our investors.\u201d<\/p>\n

SARES-REGIS Group launched the fund this year with $114 million in equity commitments, giving it the ability to acquire over $300 million in assets. The group manages a portfolio of more than 15,000 apartment units, valued at over $2.5 billion.<\/p>\n

\u201cWe intend to acquire a diversified portfolio of well-located properties primarily in coastal California, Seattle and Denver, as well as Portland and Phoenix,\u201d Montgomery says of the acquisition. \u201cThe fund is operating under a focused well-defined, value-add strategy to purchase, manage, reposition, aggressively operate and sell high-quality multifamily assets in our target markets. Arabella is the “poster-child” of exactly the type of property we seek for our value-add program.\u201d<\/p>\n

For more Denver market data, click here<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SARES-REGIS Multifamily Fund L.P. recently announced it has acquired Arabella, a 156-unit apartment community in Denver, Colorado, from Fairfield Properties.<\/p>\n","protected":false},"author":264,"featured_media":1004505688,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1587,21742],"tags":[1815],"class_list":["post-1004084614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-denver","category-latest","tag-national"],"acf":[],"yoast_head":"\nSARES-REGIS Multifamily Fund Acquires 156-Unit Value-Add Property in Denver - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/sares-regis-multifamily-fund-acquires-156-unit-value-add-property-in-denver\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SARES-REGIS Multifamily Fund Acquires 156-Unit Value-Add Property in Denver\" \/>\n<meta property=\"og:description\" content=\"SARES-REGIS Multifamily Fund L.P. recently announced it has acquired Arabella, a 156-unit apartment community in Denver, Colorado, from Fairfield Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/sares-regis-multifamily-fund-acquires-156-unit-value-add-property-in-denver\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-03T04:30:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T11:53:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Arabella-Apartment-Community-Denver-Colorado.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/sares-regis-multifamily-fund-acquires-156-unit-value-add-property-in-denver\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/sares-regis-multifamily-fund-acquires-156-unit-value-add-property-in-denver\/\",\"name\":\"SARES-REGIS Multifamily Fund Acquires 156-Unit Value-Add Property in Denver - 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