DENVER - (August 11, 2023)
Chicago-based developer adds 203-unit new-construction multifamily property in Centennial to portfolio
Draper and Kramer, Incorporated, a national real estate services firm, today announced the acquisition of The Wright, a 203-unit new-construction multifamily property at 6465 S. Xanadu Way in Centennial, Colo., a southeast suburb of Denver. Completed in early 2023, the luxury rental community is in the Denver Tech Center submarket, one of the largest employment hubs in the metropolitan area.
The property features seven three-story apartment buildings, which house a mix of 132 one-bedroom apartment homes, 65 two-bedroom apartments and six three-bedroom apartments, with units ranging from 675 to 1,351 square feet. Rents start at $1,769 per month. The community is managed by Mission Rock.
“We identified the Denver area as a priority market to grow our firm’s national footprint and we couldn’t be happier to add such a high-quality, new construction community in The Wright to our portfolio,” said Todd Bancroft, president and CEO of Chicago-based Draper and Kramer. “The Centennial area offers convenient access to many of the top attractions in the greater metro region and its proximity to abundant recreation activities and job opportunities make it an ideal location for families and young professionals.”
The Wright is located in the region’s Southeast Business Corridor, along the I-25 corridor in South Metro Denver in the heart of Colorado’s largest employment center, home to several Fortune 500 companies. The community is near local recreation, including Centennial Center Park, an 11+ acre park and amphitheater adjacent to the property, and is situated in the Cherry Creek School District, which is among the top-ranked in the area.
Residences at The Wright feature plank-style flooring, stainless steel appliances, quartz countertops, private patios or balconies, walk-in closets and in-unit washers and dryers. Units include surface parking with garage parking available to rent.
Community amenities include an upscale clubhouse with communal kitchen, dining area and hospitality bar; fitness center with state-of-the-art equipment and a private studio for on-demand spin classes and training; private game rooms; and a business center and conference room. Residents also have access to outdoor amenities, including a large resort-style pool and spa; outdoor kitchen, dining area and grilling stations; a fire pit lounge; and basketball court and playground. A pet-friendly property, The Wright also offers a pet wash room and dog park.
Draper and Kramer is also active in Denver as a joint venture partner in the development of Tempo Nine Mile, a new transit-adjacent multifamily project at the northeast corner of Parker Road and Peoria Street in Aurora, Colo. The project, which is part of the 22-acre The Point at Nine Mile Station master plan development, broke ground in late 2022 and is expected to be complete by August 2024.
Draper and Kramer’s diversified multifamily portfolio now includes 20 properties across Chicago, Dallas, Denver, Phoenix and St. Louis.
About Draper and Kramer, Incorporated:
Founded in 1893, Draper and Kramer, Incorporated, is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 130 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s decades-long heritage has evolved over the years to meet the needs of its clients and today spans expertise in residential and commercial development, acquisition, property management and leasing; debt and equity financing for commercial properties; and residential mortgage services through affiliate Draper and Kramer Mortgage Corp. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S. including corporations; private and institutional owners and users of real estate; government agencies; and foundations. For more information, visit www.draperandkramer.com.
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Editors:
For more information, contact Jeremy Barewin, [email protected], (312) 267-4533.
Coverage:
CoStar, Denver Business Journal, Mile High CRE, MultifamilyBiz, REBusiness Online
