Denver-based RedPeak developed the 302-unit One City Block apartment community in Denver.
It also has acquired apartment buildings with as few as 15 units in Capitol Hill.
Institutional apartment developers and investors like RedPeak aren’t supposed to be buying the small, one-off infill buildings.
Historically, that has been role of small, nimble entrepreneurs, who know neighborhoods well and are willing to risk their own money that a sketchy neighborhood has promise as an investment.
Plus, the small buildings in different neighborhoods don’t provide the big players the critical mass to manage them efficiently.
“I think that is right,” said Bobby Hutchinson, RedPeak’s investment director.
“We are fairly unique in that,” Hutchinson said.
Source: RedPeak buys infill apartments – Colorado Real Estate Journal
