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MIG Real Estate Continues Expansion Into Colorado With Purchase of Two Multi-Family Properties


August 2, 2012 - Newport Beach, Ca And Lakewood, CO

MIG Real Estate, LLC, a Newport Beach, California-based real estate investment company, acquired two properties in the Lakewood submarket of Denver, The Hamptons, a 312-unit residential community, and The Huntington, a 288-unit residential community. The purchases are the fifth and sixth acquisitions for MIG Real Estate in Colorado.

The Hamptons is located at 8507 West Hampden Avenue in Lakewood. The property amenities include a modern clubhouse, two pools, a year-round spa, tennis and basketball courts, an internet café, and detached garages.

The Huntington is located at 8223 West Floyd Avenue in Lakewood. The property has a clubhouse with a pool, year-round spa, tennis courts, and 24-hour fitness center. The Huntington is adjacent to a city park and open space.

Both properties offer easy access to I-25 and C-470. They are 20 minutes from downtown Denver and 15 minutes from the Denver Tech Center; and are also serviced by the RTD Park and Ride. Outdoor enthusiasts living in either location are near the mountains and will be able to enjoy hiking and mountain biking.

The Lakewood submarket is home to the Denver Federal Center, Saint Anthony's Hospital and several major employers including Lockheed Martin, American Facility Maintenance and Ludvik Electric Company, as well as many local and regional retailers.

"Denver's excellent demographic and job growth trends, coupled with limited new supply in the western submarkets, are expected to result in strong performance at the properties," said Greg Merage, Chief Executive Officer of MIG Real Estate.

Dan Woodward, David Potarf, Tyler Anderson, and Sean Cunningham of CBRE, Inc. represented the seller in the transaction. MIG Real Estate represented itself. Alliance Residential, a national multifamily operator, will manage the property for MIG.

MIG Real Estate has continued to expand its portfolio into growth markets since 2009. Its strategic plan focuses on well-located properties with a "value-add" component. The company has completed nearly $600 million in acquisitions in the past three years through direct acquisitions of office, retail, hotel and multi-family properties in major markets principally throughout the western states. For more information, please visit www.migcap.com.

Contact:
Jamie Rudolph / Kira Sarkisian
Idea Hall
714-263-8748 / 714-263-8729
jamie@ideahall.com / kira@ideahall.com

MarketWire

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