LITTLETON, CO - Walker & Dunlop, Inc. announced that it completed the $134,000,000 sale of Griffis Marston Lake, a 332-unit suburban multifamily community located in Littleton, Colorado. The property is positioned for strong long-term performance, due to its renovation program, significant potential for rent growth, and a lack of new construction in the area.
Walker & Dunlop's Dan Woodward, David Potarf, Matt Barnett, and Jake Young brokered the sale on behalf of their longtime client, Denver-based Griffis Residential, along with their partner, Pacific Coast Capital Partners. In parallel with the sale of the property, Walker & Dunlop's Trevor Fase arranged fixed rate, interest-only financing through Fannie Mae on behalf of the buyer, Kennedy Wilson.
Mr. Barnett commented, "Griffis Marston Lake represented an ideal garden-style, value-add opportunity, on the desirable west side of Denver. Our team's deep relationships with clients brought unprecedented interest to the property throughout the marketing process." He continued, "We conducted over 30 tours and – through an extremely competitive bidding process – ultimately found the right buyer in Kennedy Wilson. Walker & Dunlop's financing capabilities also provided a seamless execution for the buyer and seller."
Built in 2002 on the western edge of Denver, Griffis Marston Lake is an institutional-quality property offering residents convenient access to Red Rocks, downtown Littleton, and major employers in the area including the Swedish Medical Center, Denver Federal Center, and Lockheed Martin. The community appeals to the post-COVID renter demand for a low-density suburban location with larger units, while remaining close to metropolitan amenities. Downtown Denver and the Denver Tech Center are within a 30-minute drive, and the nearby Highway 285 and Interstate-70 enable easy access to the Rocky Mountains.