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Denver Multifamily

Investors Look to Light Rail Locations

As metro Denver’s light rail system expands, investors are looking to benefit. Recently New York-based Phoenix Realty Group acquired Chelsea Park Village, a 600-unit apartment property at 11850 East Maple Ave in Aurora. One reason, according to Phoenix president Keith Rosenthal, is the Denver RTD light rail expansion that will open in 2016 in close proximity to property. The area’s concentration of aerospace, energy, bioscience, defense and other tech jobs doesn’t hurt either, he adds. The new owner plans to upgrade the property’s amenities, adding new signage, enhancing common areas and improving landscaping.

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