Aragon Holdings (www.AragonUSA.com) announced that it has expanded its national portfolio of multi-family assets with the acquisition of two properties located in Orlando and Denver. With a total cost of over $100 million, the properties were purchased using the firm’s private equity fund, Aragon Multi-Family Cash Flow Fund III, and financing provided by Freddie Mac.
The two acquisitions, which together include 850 apartment units, bring Aragon Holdings’ national multi-family portfolio to nearly 10,000 apartment units. Since 2012, the company has purchased over $500 million of multi-family assets in seven states.
Located in Denver, the Waterfield Court Luxury Apartments totals 482 units and was completed in 1996. This is the fourth property acquired by Aragon in the Denver metropolitan area. Amenities include two swimming pools with poolside Wi-Fi, an indoor spa, a clubhouse, a basketball court and a dog park.
Signal Pointe Apartment Homes, Aragon’s second acquisition in the Orlando market, totals 368 units. In 2009, the property underwent a $15.5 million renovation that extensively updated the unit interiors and common area amenities. The property features three swimming pools, two tennis courts, a fitness center, a business center, a resident center, a golf simulator and a dog park.
Both properties are located in submarkets with healthy job markets, attractive shopping and recreational offerings, strong educational resources, and convenient access to major transportation thoroughfares.
Dan Guy, President of Aragon Holdings, stated, “Our existing properties in both the Denver and Orlando markets have performed extremely well for Aragon, and we are pleased to expand our portfolio in cities that have solid track records for outperforming the national economy in terms of both job and population growth. These standards are used for all of our multi-family acquisitions, as we continue to pursue multi-family acquisition opportunities nationwide.”
Aragon Holdings is a Private Real Estate Investment and Fund Management Company based in Los Angeles, California, that acquires and manages multi-family assets on behalf of high net worth investors. The company currently owns and manages properties in Albuquerque, Atlanta, Dallas, Denver, Fort Worth, Houston, Kansas City, Orlando, Salt Lake City and San Antonio.
Auerbach & Co. Public Relations