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Watermark Residential Sells 264-Unit Class A Multifamily Community in Denver

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DENVER, Dec. 11, 2020 /PRNewswire/ Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation s leading multifamily developers, announced today the sale of Watermark at First Creek, a 264-unit Class A multifamily community in Denver. California-based Borello Asset Management, Inc. bought the property for $74.65 million.
Denver has been one of the fastest growing areas in the nation for more than a decade, said Josh Purvis, managing partner with Watermark. This population growth, combined with a lack of affordable single family housing has created strong investor demand and skyrocketing multifamily values. With Watermark s commitment to building communities based on style, convenience and luxury, it s no surprise that Watermark at First Creek was especially attractive to investors. ....

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