Newmark Multifamily announces the sale of The Marq at RiNo, a Class A, mid-rise asset located in Denver’s hottest neighborhood, the River North Arts District (RiNo).
Vice Chairmen Shane Ozment and Terrance Hunt, along with Executive Managing Director Chris Cowan represented the seller, CWS Capital Partners, a real estate investment management firm focused on 1031 exchange opportunities. Braddock and Logan, a real estate developer/investor based in San Francisco, made its seventh apartment acquisition in metro Denver in 36 months with the buy and raised its market presence to a total of 2,149 units. Braddock and Logan previously acquired Class A multifamily communities in Southeast Aurora, Parker, Littleton, Lone Tree and North Cherry Creek.
“The Marq is located in the quickly evolving RiNo submarket, which is at the doorstep of everything Denver has to offer including office development that’s attracting notable employers,” said Hunt.
The Marq at RiNo is located at the edge of Brighton Boulevard, the district’s main thoroughfare. This area is one of the fastest-growing neighborhoods for office space in the state. Nearby is the 100,000-square-foot Zeppelin Station office and retail hub; a 120,000-square-foot creative workspace concept called Industry; and TAXI, a mixed-use development tailored for creative businesses.
The Marq at RiNo offers residents 301 modern apartment homes with high-end finishes, including energy-efficient stainless steel appliances, granite countertops, full-size washers and dryers, expansive walk-in closets, kitchen islands, and balconies or patios. The property’s amenities include a contemporary clubhouse, state-of-the-art fitness center, tap room, media/gaming room, dog run area, resort-style pool, a rooftop deck with fire pit, controlled access, structured parking and covered bicycle storage.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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