Waterford RiNo Apartments

JLL Capital Markets has been retained as the exclusive advisor in the sale of Waterford RiNo, a 301-unit community situated in the heart of Denver’s eclectic River North (RiNo) neighborhood. Originally constructed in 2012, Waterford RiNo represents the opportunity to acquire a stabilized community with significant value-add upside in one of the fastest growing neighborhoods in the metro. Highly favored by Denver’s discerning, affluent renter, this RiNo location continues to see a significant influx of institutional capital, funding rapid expansion and continued demand for the foreseeable future.

Waterford RiNo comprises a diverse mix of modern studio, one- and two-bedroom floorplans. Select unit interior enhancements have been completed at the property throughout current ownership’s hold period, however the opportunity exists to embark on a full renovation campaign across all units in order to better compete with new deliveries in RiNo that are resetting top of market rents. Significant rental headroom of ± $475 exists between current rent levels at Waterford RiNo and recent deliveries (2023 vintage & newer) within the submarket. Additionally, the community amenity space is extensive, with a resort-style pool, two courtyard areas, rooftop deck, recently refreshed clubhouse, and a spacious state-of-the-art fitness center.

The property’s frontage along Brighton Boulevard, a major thoroughfare connecting the north side of RiNo directly with Denver’s Central Business District, provides the premier live-work-play experience. The Waterford RiNo investment thesis is strong as the property provides unparalleled access to Denver’s most popular restaurants, trendy retailers and lifestyle amenities sitting adjacent to Denargo Market, a public and privately funded future development, combined with a robust value-add opportunity at a significant discount to today’s replacement cost.