The Ranch At Bear Creek

JLL has been retained as the exclusive investment advisor in the sale of Ranch at Bear Creek Apartments & Townhomes (“Ranch at Bear Creek”), a heavily desired, low-density, 201-unit garden style and townhome multi-housing community situated within the coveted employment and amenity rich suburban enclave of Lakewood, CO. The property boasts a unique unit mix, consisting of ± 60% (118 units) two- and three-bedroom townhome style units, which command intense demand within this submarket.  

Originally completed in 1973, the acquisition of Ranch at Bear Creek presents a strategic value-add and repositioning opportunity for new ownership to standardize renovations across the property in order to compete with new and recently renovated product within the submarket. Current ownership has completed renovations on 34% (68 units) of the property with a scope consisting of; stainless-steel appliances, resurfaced countertops, upgraded cabinets, subway tile backsplash, LVP flooring, and modern lighting fixtures, yielding premiums of ± $175 - $220/unit/month, on average. Current ownership has placed a significant emphasis on community amenity enhancements allowing new ownership the opportunity to focus on a strategic in-unit renovation campaign, further transforming Ranch at Bear Creek into one of the most desirable rental communities in the Lakewood submarket.

Situated along US-285, Ranch at Bear Creek boasts strong proximity to key employment hubs in Lakewood such as the Denver Federal Center, St. Anthony’s Hospital, as well as being within 20 minutes of Downtown Denver and the Denver Tech Center. Given the strong surrounding employment nodes, coupled with the elevated cost of homeownership in the immediate area ($575,000 Average Home Price), Ranch at Bear Creek is well positioned to capture future rental demand as the key renter demographic is priced out of the exclusive for-sale housing market within the area. Historically, Lakewood has been one of the top performing and most supply-constrained submarkets within Metro Denver boasting ± 3.70% long term annual average rent growth. Due to a 1% Growth-Cap Housing Ordinance which was passed in 2019 and remains instated until 2026, the Lakewood submarket is one of the most exclusive residences within Metro Denver. As a result, there are currently zero new multifamily units under construction within the submarket further positioning Ranch at Bear Creek to capitalize on strong organic rental fundamentals.  

The aforementioned locational and physical attributes coupled with the unique value-add nature and strong fundamental tailwinds, position Ranch at Bear Creek as one of the most compelling investment opportunities available within Metro Denver.