Denver Program
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.
