BayRock joined the prominent, family office real estate firm, Prospect Hill Group, “PHG”, seeking additional opportunities in non-coastal markets prior to the Pandemic. Subsequent to the lockdown in California, PHG and BayRock secured two, well-located investment opportunities in the Denver metro area.
Sylvan at Uptown, Uptown Denver neighborhood
Existing 99 units urban core location. Sylvan at Uptown is a major, value-add and re-position of a newer asset. The property, formerly known as 16 Penn, was constructed in 2018 and was developed for 55+ senior independent living.
Market conditions exacerbated by the Pandemic forced ownership to pivot and sell the asset prior to true stabilization. PHG quickly obtained control during the marketing process.
The Property is currently undergoing its transformation, including a comprehensive remodel of all common areas, exterior signage and landscaping, branding and interior finishes.
17th and Clarkson, Uptown Denver neighborhood
124 units, high density luxury product under construction with delivery in 2023.
The investment is a joint venture, as co-GP, with a local, active, legacy real estate investment and development firm.
PHG secured additional investment from a high net worth, family office investor focused on multifamily.