Sares Regis Group Multifamily Fund is very excited to add this asset. Completed in 2012, Waterford RiNo is a 301-unit apartment community consisting of two, 4- and 5-story wrap buildings surrounding a multi-level garage. Located in Downtown Denver’s popular River North Arts District (RiNo), Waterford RiNo's location fronts Brighton Boulevard, a major thoroughfare connecting this north side of RiNo directly with Denver’s Central Business District.
RiNo’s adjacency to Downtown Denver and its office development makes it easily accessible to major employment. Additionally, Waterford RiNo provides easy walkability to the neighborhood's 150+ restaurants and bars and is a short walk to nearby Coors Field stadium. As one of the nation’s hottest job markets and fastest growing technology hubs, Denver continues to attract a wide variety of companies choosing to relocate or co-located throughout the metro area.
Comprised of studio, one-bedroom, and two-bedroom floorplans, community amenities include a pool, spa, two outdoor lounge areas, a rooftop deck, fitness center, business center, and resident lounge. The property offers a selection of 18 different floorplans featuring granite countertops, stainless steel appliances, vinyl plank flooring, and washers and dryers.
The property provides a significant opportunity to drive increased value through the execution of a value-add renovation program. Featuring newer units with contemporary floorplans that have not been updated since construction, our renovation program will include upgrades to unit interiors and robust upgrades to common area amenities. Upgrades to the pool area, outdoor lounge areas, and rooftop deck will capture a resort-like feel. We will revitalize the fitness center, with improved finishes and select equipment. The clubhouse and leasing center will see a major rework to improve the efficiency of operations.
Congratulations to all who worked on this acquisition and thank you for the great work!
William B. Montgomery
Chief Investment Officer