CIM Group Acquires One of Denver’s Largest Multifamily Properties The Lex at Lowry, A 710-Unit Apartment and Townhome Community
DENVER--CIM announced today that it has acquired The Lex at Lowry, a 710-unit apartment community set on approximately 26 acres located at 240 S. Monaco Pkwy. in Denver, Colorado. The acquisition expands CIM Group’s Denver-area residential portfolio to more than 1,300 units.
Originally built in 1972, The Lex at Lowry comprises 24 buildings totaling approximately 816,261 square feet, a combination of townhome and mid-rise units, and 1,204 parking stalls. The property has a central location between Lowry and Cherry Creek on Denver’s east side. Today the Lowry area is a desirable community featuring a mix of single family and multifamily housing, a variety of retail and restaurant options, office space, and more than 800 acres of recreational facilities and open space.
“CIM Group’s team has deep experience with well-located, significant multifamily communities in markets across the country which it brings to the ownership and operations of The Lex at Lowry. With a prominent location in a thriving metropolitan market, nearby business centers and regional transportation, The Lex at Lowry provides quality housing for this dynamic area which aligns with CIM Group’s community focus,” said Shaul Kuba, Co-Founder and Principal at CIM Group.
The Lex at Lowry offers a range of residences from one- to three-bedroom apartments and townhomes, configured in an array of spacious floor plans. It also provides residents with highly sought-after community amenities including multiple swimming pools, tennis courts, a yoga and spin studio, a racquetball court, an indoor basketball court, fitness center, and business and conference facilities. In addition to vast landscaped grounds and green spaces, The Lex at Lowry provides residents with a playground, dog park, and ample outdoor seating areas with fire pits.
The Lex at Lowry is one of only seven apartment properties with more than 700 units in the Denver metropolitan area. It offers convenient access to Denver’s largest employment bases including Cherry Creek, Downtown Denver, and Denver Tech Center.
CIM has been an active owner, developer, and operator in Denver for more than 10 years. CIM’s Denver portfolio includes 9th+Co, an urban infill mixed-use project with a variety of retail, restaurants and entertainment alongside residential options including the 275-unit Theo and 319-unit Milo apartment buildings, and Ella CityHomes at 9th+Co, a collection of 35 for-sale luxury townhomes. CIM also owns and operates LoDo Towers, two high-rise office buildings totaling approximately 421,000 square feet in Lower Downtown Denver.
For leasing information on The Lex at Lowry, visit https://www.thelexatlowry.com/.
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.