A unit of Summit Management Services Inc. of Akron, Ohio, has purchased the Green Leaf Riverside apartments in Littleton.
Green Leaf Partners, a Danville, California-based real estate investment company, sold the property to Summit MultiCapital LLC, Summit’s acquisition and financing arm.
With the sale, the 248-unit complex is now known as Summit Riverside.
ARA Newmark, which represented Green Leaf Partners, announced the sale today.
The selling prices was not disclosed. The complex sold for $39 million in 2014, according to Arapahoe County public records.
The complex, located at 4957 S. Prince Court, was built in 1986 and has undergone renovations and improvements. Amenities include a clubhouse, pool and fitness center.
“Investors were attracted to this asset due to its unique mix of units, which included 96 loft units, and its proximity to downtown Littleton and light rail. There is a real lack of new product being developed in Littleton which drew buyers to the asset,” said Shane Ozment of ARA Newmark. “Residents can access recreation out their back door, with the Platte River trail being adjacent to the property.”
Summit Management Services is active in Colorado, with several properties in the Fort Collins area, as well as in Ohio, North Carolina and Maryland.