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Denver Commercial Real Estate

DENVER IS OVERPRICED?

Continental Realty’s John Bennett let slip a bombshell for the Denver multifamily market: “Things to us are overpriced.” (Maybe "The Rent is Too Damn High" guy had a point.) We chatted with John this week about what Continental is looking to buy: apartments in places like Phoenix, Dallas, Orlando, and Atlanta. With some 4,000 units across its portfolio, John says, “We’re in a very aggressive expansion program,” chasing upwards of $500M in apartment purchases (just not in Denver).
Most recently CRA purchased a 1,200-unit apartment portfolio in Louisville, Ky. from Camden Property Trust for $97M. Among the portfolio included this 430-plus unit Oxmoor apartment complex. Ironically, the portfolio sale also means Camden exits the Louisville market, according to reports.

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