DENVER (February 16, 2016) — Legacy Partners, a privately owned national real estate firm, in partnership with USAA Real Estate Company, announced today the acquisition of 2.3 acres along Speer Boulevard. in the Golden Triangle neighborhood of downtown Denver. Groundbreaking for a seven-story, 322-unit luxury apartment building is scheduled for August 2016.
“This highly visible location is in close proximity to major demand drivers in Denver and has direct access to desirable Golden Triangle and Downtown amenities, making it ideal for a luxury apartment development,” said Spencer Stuart, Senior Managing Director of Legacy Partners. “We have thoughtfully planned the community to include rich amenities and to accommodate a work-life balance for those working directly in-home, in our shared office space or elsewhere in the Denver area.”
“This transaction reinforces USAA’s strategy of investing in Class A, urban-infill, transit-oriented multifamily ground-up developments in major markets across the US,” said Len O’Donnell, President and CEO of USAA Real Estate Company. “We are enthusiastic about launching this partnership with Legacy Partners”.
The apartment community will feature one-, two-, and three-bedroom units with luxury finishes that include stone countertops, stainless steel appliances, and gas stoves. In addition to the innovative business center providing professionals who desire onsite office space, residents will have access to a variety of other amenities, including an outdoor pool and lounge space; roof and sun decks that overlook the picturesque Western Range; two-level fitness center complete with spin room and yoga studio; demonstration kitchen and wine cellar with individual lockers; dog spa; bicycle repair shop exclusive to residents; and a storage area for bike and ski equipment.
Situated on Speer Boulevard between 13th and 14th Avenues, the property will stand one block south of the Colorado Convention Center and in close proximity to a multitude of restaurants and cultural attractions in Denver’s Golden Triangle, in addition to enjoying convenient access to the Cherry Creek Trail that runs along Speer Boulevard directly across the street. In addition to the walkability of the surrounding area, an RTD light rail station is around the corner, and there is immediate access to I-25 and I-70.
The Denver office of KTGY, a national architectural firm with offices on both coasts, is the architect of record for the project.
About Legacy Partners
Legacy Partners, a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay area, owns, develops and manages multifamily communities throughout the United States. We have regional offices in Arizona, California, Colorado, Nevada, Oregon, Texas and Washington. Since our inception, we have developed more than 65,000 apartment homes and worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results. Legacy Partners teamed up with New York based Silverpeak Real Estate Partners on this project.
In addition to development, Legacy Partners provides management services for our own portfolio, as well as other owners. Combined, we manage a portfolio of over 60 multifamily communities with more than 14,000 apartment homes, and with a gross value in excess of $2 billion. For further information, please visit legacypartners.com
About USAA Real Estate Company
USAA Real Estate Company, with approximately $15 billion in assets under management, provides co-investment, acquisition, build-to-suit and development capital and services for corporate and institutional investors. The USAA Real Estate Company portfolio consists of office, industrial, multi-family, retail and hotel properties, as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, please visit usrealco.com.