TriVista on Speer Sells for $144.5M
Mile High CRE
June 29, 2021
TriVista on Speer, a 322-unit, seven story multifamily property located at 1350 Speer Boulevard in the Golden Triangle neighborhood of Denver, has sold to Manulife Investment Management for $144.5 million.
The recently completed class A building features large floorplans with average unit sizes of 985 square feet, which includes an attractive mix of one studio unit, 179 one-bedroom units, 94 two-bedroom units, and 4 three-bedroom units. The 317,015-square-foot property also offers high-end amenities catering to the demands of the young working professional such as a rooftop lounge, pool deck, conference rooms, and multi-floor fitness center. It is currently over 90 percent occupied.
The property is strategically positioned within the Golden Triangle, one of downtown Denver’s most vibrant neighborhoods that is an ideal live-work-play environment. Residents of the area benefit from being conveniently located near restaurants, bars, sporting arenas, theaters, galleries, parks, and high-end shopping. The property is also walking distance to 150,000 jobs within the Denver Central Business District, and the University of Colorado Denver Campus.
“The City of Denver is home to a growing economy where corporations have expanded or relocated adding to the city’s robust labor force,” said Pritesh Patel, head of U.S. Real Estate Investments, Manulife Investment Management. “The favorable job market and high quality of life that residents seek have all contributed to the city’s economic advancement, and ultimately, is a region where Manulife Investment Management is looking to further expand its real estate footprint.”
Manulife Investment Management develops and manages commercial real estate for thousands of customers around the globe as part of its comprehensive private markets’ capabilities. As of March 31, 2021, its real estate portfolio totals 63 million square feet of office, industrial, and retail space strategically located in markets across Canada, the U.S., and Asia. The group leverages its global platform and local expertise to provide market-leading solutions for its tenants and deliver results for its partners.