HLC Equity, a national real estate investment holding group and property manager with over 5,000,000 square feet of real estate owned and managed throughout 17 states, in a joint venture with Hampshire Companies, a fully integrated real estate fund manager with assets valued at over $2 billion, have announced the purchase of Sage Brook, a 216-unit, Class-B apartment community in Denver, Colorado.
Sage Brook is ideally situated in a continually improving infill location just three miles from the upscale Cherry Creek neighborhood and neighboring Aurora, benefiting from the growth of both markets. It is also positioned in the center of the region’s three largest employment centers: Downtown Denver, The Denver Tech Corridor and the Fitzsimons Innovation Campus.
The community is amenitized with a private clubhouse, 24-hour fitness center, business center, swimming pool, children’s playground, barbecue grills and a picnic area. HLC Equity’s management arm will manage the property, and intends to improve the property and upgrade the general common areas along with the implementation of a unit upgrade program to better serve its residents.
“The purchase of Sage Brook is in line with our overall strategy of investing in communities that are in high demand locations, transit oriented, and have the right amenity package that will allow us to focus on offering our residents a quality lifestyle, at a price that they can afford” said Daniel N. Farber, executive vice president of HLC Equity.
Commenting on the joint venture, Farber noted that, “HLC Equity and the Hampshire Companies’ business relationship spans over fifty years, and building on our strong foundation, we were pleased to again work with such a reputable group that we knew could execute on this transaction.”
About HLC Equity
With over 60 years of real estate experience, HLC Equity is a real estate investment group and property manager. The company maintains a diverse portfolio, having owned and managed over five million gross square feet of commercial, residential, and development land in 17 states. HLC Equity applies a disciplined, time-tested approach to each property, seeking to acquire and improve high-performing assets with an attentive eye to surrounding neighborhoods and communities. www.hlcequity.com
About The Hampshire Companies
The Hampshire Companies, of Morristown New Jersey, is a privately-held, fully integrated real estate operating company and private equity real estate investment fund manager that has over 90 years of hands-on, cycle-tested experience in acquiring, developing, leasing, repositioning, managing, financing and disposing of real estate. Presently, Hampshire is the sponsor of more than $1 billion in equity under management in various commingled, fully-discretionary real estate investment funds, with an overall aggregate value of approximately $2 billion. www.hampshirere.com