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Los Angeles-based Jacobson Co. has acquired The Modern apartment community in a deal valued at $41.25M.
Built in 1979, The Modern is a 230-unit garden-style community on 8.27 acres at 6301 West Hampden St. in southwest Denver.
“The Modern has a great occupancy history and will continue to perform well due to its high-visibility location along Highway 285,” said CBRE Executive Vice President David Potarf, who, with Matthew Barnett and Jake Young, represented seller Fowler Property Acquisitions of San Francisco.
Amenities include a pool and sun deck, a fitness center, a full basketball court, a TV lounge/clubhouse and on-site management and maintenance with night patrol. The Modern is on the north side of Highway 285 just west of Sheridan Boulevard. Bear Valley Shopping Center, which has a mix of restaurant, grocery and retail services, is 1 mile east of the community.
“The seller had completed a terrific rebranding of the community and renovated 60% of the units with new appliances, flooring, paint, light fixtures and hardware, and resurfaced counters,” Young said.