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National real estate investor and operator Waterton has acquired Ridge at Thornton Station, an 18-building, 280-unit garden apartment community in Thornton.
The property has 10 two-story buildings completed in 2016 and eight recently completed three-story buildings. Adjacent to the new Thornton Station on the Regional Transportation District’s North Metro Line, which is scheduled to open by 2020, Ridge at Thornton Station provides access to commuter trains that offer a 20-minute commute to downtown Denver.
“With the recent completion of Phase II, we are excited about closing on the Ridge and completing the lease-up,” Waterton Vice President of Acquisitions Peter Kuzma said in a statement. “There is little new product in the Thornton submarket, and there are no nearby communities located on top of a future light-rail station. That competitive advantage will be a game-changer for the community.”
Chicago-based Waterton manages a national portfolio of multifamily and hospitality properties on behalf of institutional investors, family offices and financial institutions. The privately held company’s portfolio holds $4.3B in real estate assets.
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