Adding to its portfolio of high quality residential rental properties in the greater Denver metropolitan area, Granite Capital Group has acquired Belle Creek Commons, a 167-unit complex of townhomes and apartments in Henderson, Colorado. Belle Creek Commons consists of ten buildings, which were constructed in 2017 and 2018, and is part of the master-planned-community of Belle Creek. The purchase price for the complex, where all units feature 9′ ceiling heights and full size in-unit washer/dryers, was $34.17 million. More details... [ Read More ]

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The Apartment Association of Metro Denver honored the President of Granite Management Group, Jason McIntosh, at their annual dinner in 2018, selecting him as a finalist in their Most Outstanding Executive of the Year competition. The selection came as no surprise to McIntosh’s colleagues, who value the insight and operational experience that he brings to bear every day, having spent more than two decades working in the industry. You can read more about the award here.

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With the October 2018 closing of the sale of the Rise, Edge and Vue apartment buildings in Denver’s Cherry Creek neighborhood, for a total price of $56.35 million, investors in the two funds that owned the properties locked in an annual rate or return at least 30%. This is a testament to the success of the project, which included significant rehabilitation work aimed at increasing property valuations and rental income. More details on the sale are available here.

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