April 6, 2018 | Press Release
HQ Capital Real Estate and Wood Partners close on 260-unit multifamily development in Lakewood, CO
New York, NY, April 3, 2018. New York City-based HQ Capital Real Estate (“HQCRE”), a member of HQ Capital Group, today announced the formation of a joint venture with Atlanta-based Wood Partners to develop Alta Green Mountain, a 260-unit garden apartment development in Lakewood, CO. The project, led by the Denver team at Wood Partners, is located adjacent to Denver Federal Center and a short drive from the Belmar open-air lifestyle mall. The property is also less than two miles from the W Line light rail station providing access to Downtown Denver.
Trey Wakefield, Director at HQCRE, said: “Denver has consistently been ranked as one of the best places to live in the U.S. Its FasTracks rail expansion has enabled the revitalization of neighborhoods and growth in communities that have a mixed-use approach and urban feel. Alta Green Mountain will be a new garden apartment project in an excellent location near major employment centers.”
Alta Green Mountain will feature Class A unit finishes such as quartz countertops, stainless steel appliances and in-unit washer and dryers. Planned community amenities include a resort-style pool, fitness room, bike storage, pet station, and cyber cafe. Construction is expected to start immediately. The property will be managed by Wood Residential Services.
Alta Green Mountain is HQCRE’s 20th investment with Wood Partners, and follows recent apartment joint ventures in Orlando, FL and Chapel Hill, NC last year. The project aligns with HQRE’s longstanding strategy of pursing opportunistic investments in select growth markets throughout the U.S.