DENVER, April 4, 2022 /PRNewswire/ — Commercial real estate firms Hamick Asset Management, Elevate Property Partners, BluSky Equity Partners, and Vista Laguna Asset Management announce the joint acquisition of Fairview Apartments in Aurora, Colorado. The teams are led by Tim Hamick at Hamick Asset Management, Bob Langan at Elevate Property Partners, Greg Butcher at BluSky Equity Partners, and Mark Lenning at Vista Laguna Asset Management.
The investment leads commented: "We’re very pleased to be expanding our general partnership portfolio into Colorado with our acquisition of Fairview. We are encouraged by and excited about the strong economic and population growth in the Denver MSA, as well as the peerless quality of life residents enjoy there."
Fairview is a 100-unit apartment complex, originally built in 1974 and renovated in 2018-21, located near Aurora’s City Center. This location makes it a short drive or ride on the light rail to employment options in Downtown Denver, major medical centers along I-225, Buckley Space Force Base, and Denver International Airport.
Fairview’s unit mix of one and two-bedroom apartments and three and four-bedroom townhome units is attractive to families. The three and four-bedroom townhome units are especially rare in the submarket.
Residents at Fairview enjoy access to covered parking, a community vegetable garden, a playground with picnic areas, a dog park, and ample green space around the property. Interior amenities include ceiling fans and vinyl faux wood flooring with carpeted bedrooms. Select units also enjoy private fenced yards, two-tone paint, stainless steel appliances, built-in microwaves, tile backsplashes, tile or marble bath surrounds, and in-unit washer/dryers.
Combined, the team of Hamick Asset Management, Elevate Property Partners, BluSky Equity Partners, and Vista Laguna Asset Management owns and operates a portfolio of over 1,200 multifamily units worth over $140M across Arizona, Texas, and Michigan – and now Colorado.
Due in part to Hamick Asset Management having been involved with Fairview as a limited partner for the past four years, this team is uniquely positioned to lead the further development of this property.
The new ownership group intends to further improve Fairview’s exterior appearance and amenities, expand the office, and continue a proven template for interior renovations and in-unit washer/dryer installation.
Investors looking for a proven team to preserve and grow their capital can learn about future acquisitions through the websites for Hamick Asset Management or BluSky Equity Partners, or by reaching out to any of the partners.
About Hamick Asset Management
Hamick Asset Management LLC, founded in 2016 by Tim Hamick, is a real estate investment company that specializes in the purchase of and investment in multifamily and multi-tenant real estate assets. Geographic areas of focus for potential asset purchases include Dallas/Fort Worth, Houston, Austin, San Antonio and other markets throughout Texas, Colorado, Arizona, Florida and Michigan. Learn more at www.hamick.co.
About Elevate Property Partners
Elevate Property Partners, LLC was co-founded by Bob Langan in 2019. Elevate Property Partners’ mission is to acquire/build/develop real estate developments from the ground up and to acquire existing value-add multifamily real estate assets; all to provide investors with high-quality investments and significant returns. Elevate is located in Southeast Michigan, with three current projects in Michigan totaling 370 units. Fairview is Elevate’s first acquisition in Colorado.
About BluSky Equity Partners
BluSky Equity Partners was founded by husband-and-wife team Tina and Greg Butcher. Their company’s goal is to make commercial real estate investments accessible to ordinary people, with an emphasis on military and veterans, to help them grow their wealth with confidence and live their lives on their own terms. To date, BluSky Equity Partners has acquired $120 million in multifamily real estate in Arizona and Texas (and now, Colorado) in partnership with other general partners. Learn more at https://BluSky-equity.com
About Vista Laguna Asset Management
Vista Laguna Asset Management, founded by Mark Lenning, locates, acquires and manages underperforming for-lease multifamily assets in high-performing markets across the U.S., driving value in their investments and superior returns for their investors. They are currently focused on several Texas markets, Denver, and Phoenix and Tucson, Arizona.
BluSky Equity Partners, LLC
SOURCE BluSky Equity Partners, LLC