Wood Partners announced Tuesday they have acquired The Grove at City Center, a 420-unit multifamily residential complex.
“The Grove at City Center is a strong value-add opportunity that we are thrilled to add to our growing portfolio in the greater Denver area,” said Jane Maushardt, Wood Partners’ Director of Acquisitions. “The Grove is an excellent example of Wood Partners’ strategic approach to identifying well-located, value-add opportunities in growing regions that appeal to a wide variety of our target renters.”
Wood Partners plans to continue renovations started by the previous owners by upgrading the unit interiors with high-end finishes.
“Through thoughtful design, capital improvements and sound property management, we look forward to bringing this well-positioned asset to its full potential to meet the level of other similar assets in the submarket and achieve our strategic investment goals,” said Maushardt.