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October 3, 2023
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MULTIFAMILY NEWS
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The Bascom Group LLC and Artemis Real Estate Partners Buy Active Adult Community in Lakewood, CO

3/01/23

The Bascom Group LLC and Artemis Real Estate Partners have acquired Avenida Lakewood, a 230-unit Active Adult (55+) apartment community in Lakewood, CO. The purchase price was not immediately disclosed.

The Class A property is located at 11001 West 15th Place, north of Hwy 40 and west of Kipling St. Situated just seven miles west of Downtown Denver, Avenida Lakewood was constructed in 2019 by Avenida Partners, a prominent builder that specializes in developing Active Adult communities.

The property is a highly-amenitized community that boasts extensive indoor and outdoor spaces including a clubhouse, game room, arts studio, theater, salon, pool and spa, fitness and yoga studios, gardening plots, a sky lounge, EV charging stations, and a pet park. Unit interiors feature high-end finishes with quartz countertops, stainless steel appliances, oversized cabinetry, custom lighting, and faux wood flooring. In addition to its abundant amenity offering, the property offers residents a variety of activities, such as social functions, fitness classes, and creative arts and educational programs, that are designed to foster a sense of community and enhance residentsí quality of life. Creating a best-in-class lifestyle distinguishes Avenida Lakewood from other Active Adult communities in the Denver Metro Area.

The property also provides residents access to abundant recreation, retail, and entertainment options against the unmistakable backdrop of the Rocky Mountains. Avenida Lakewood residents can venture outside to explore over 2,400 acres of open space on nearby Green Mountain, delight in world-renowned entertainment venues like Red Rocks Amphitheatre, or wander the streets of nearby Golden, home to Coors Brewing Company and countless recreation outlets for hiking, biking, and fishing. Lastly, Avenida Lakewood is located between two of Denverís premier medical centers, St. Anthony Hospital and Lutheran Medical Center, while also providing residents immediate access throughout Denver via the Oak Street Light Rail Station located three blocks from the property.

The purchase marks Bascomís 36th multifamily acquisition in Colorado. Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk, and Jake Vitta of IPA arranged the debt financing for the acquisition from Santander Bank. Apartment Management Consultants will provide property management services.





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