DENVER: Great For Value-Add
Canny investors are finding value-add opportunities in the city's apartment market, says MIG Real Estate CEO Greg Merage. Denver, he points out, is the nation's fastest-growing large city (ask the Census Bureau), and Forbes ranks it fourth-best city for job seekers. (They're coming in droves, but instead of covered wagons this time, they're arriving via Smart Cars and fixed-gear bicycles.) Those are strong motivations for investors to leave no stone unturned, Greg says. California-based MIG just picked up 168-unit Copper Terrace Apartments at 6550 S Dayton St in Centennial, its sixth Colorado multifamily property. Greg says it has value-add potential and happens to be in a “thriving job center," with the 423,000 or so jobs of the Southeast Business Corridor.