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Castle Lanterra Properties has acquired The Ranch at Bear Creek, a 201-unit apartment property at 3324 South Field St. in Lakewood.
It is the fourth property the Suffern, New York-based real estate investment company has purchased in the region in the last 16 months, bringing the total number of units it owns in metro Denver to more than 1,100.
“We continue to be attracted by Denver’s positive economic outlook,” Castle Lanterra CEO Elie Rieder said. “The acquisition of Ranch at Bear Creek marks our second purchase in the city of Lakewood. This submarket is particularly compelling for us due to its high barriers to entry, its close proximity to major employment centers such as the Denver Federal Center and St. Anthony’s Hospital, as well as its accessibility to downtown Denver."
Built in 1973, the community features 118 two- and three-bedroom townhomes, 54 two-bedroom apartments and 29 one-bedroom units. Average square footage ranges from 1,270 SF for the three-bedroom townhomes to 685 SF for the one-bedroom layouts. Amenities include a remodeled clubhouse, a newly constructed fitness center, two swimming pools and a business center. There is a spin and yoga room with fitness on demand, an outdoor grilling area with new gas grills, an outdoor lounge with a gas fire pit and a recreation room.
CORRECTION, MAY 8, 4:20 P.M. MT: A previous version of this story had the wrong number of units for the 201-unit The Ranch at Bear Creek. The story has been updated.
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