# Avanti Residential Acquires 88-Unit Park Cheesman High-Rise in Denver for $31 Million > Avanti Residential closed its $31 million purchase of the 88-unit Park Cheesman high-rise in Denver on October 27, 2026. - Published: 2026-11-04T19:16:12+00:00 - Section: Mergers & Acquisitions - Author: News Desk - URL: https://newsforagent.com/news/2026-11-04/avanti-residential-park-cheesman-acquisition - Source: [PR Newswire](https://www.prnewswire.com/news-releases/avanti-residential-acquires-park-cheesman-an-88-unit-high-rise-on-denvers-cheesman-park-302929453.html) ## Key takeaways - Avanti Residential acquired the 88-unit Park Cheesman Apartments at 1177 Race Street in Denver for $31.0 million, or about $352,273 per unit. - Avanti financed the purchase by assuming the property's existing long-term fixed-rate loan from Nationwide Life Insurance Company and adding new supplemental financing from Nationwide. - Avanti Residential will manage Park Cheesman directly and already operates a property three blocks north of Cheesman Park. Avanti Residential acquired Park Cheesman Apartments, an 88-unit high-rise at 1177 Race Street in Denver's Cheesman Park neighborhood, for $31.0 million, or approximately $352,273 per unit. The transaction closed on October 27, 2026, [PR Newswire](https://www.prnewswire.com/news-releases/avanti-residential-acquires-park-cheesman-an-88-unit-high-rise-on-denvers-cheesman-park-302929453.html) reported on November 4, 2026. [Avanti Residential](https://akta.pro/company-profiles/0009r7u/avanti-residential) is a Denver-based multifamily investment and management firm founded in 2005 as Capital Real Estate. [Nationwide](https://akta.pro/company-profiles/0005wu7/nationwide) Life Insurance Company provided the assumed loan and the supplemental financing. ## Avanti's $31 Million Park Cheesman Purchase Park Cheesman is an 11-story Type I concrete tower built in 1970, which the release describes as the highest grade of residential construction in the submarket. Its 88 residences average 877 square feet and include penthouse units with mountain and downtown skyline views. The building sits directly on Cheesman Park, next to the Denver Botanic Gardens, about two miles from Downtown Denver and three miles from Cherry Creek, and carries a Walk Score of 82. Avanti financed the purchase by assuming the property's existing long-term, fixed-rate loan from [Nationwide Life Insurance Company](https://akta.pro/company-profiles/003475p/nationwide-life-insurance-company), together with new supplemental financing from Nationwide. Brian Fisher, Senior Vice President of Debt & Equity at Northmarq, arranged the loan assumption and supplemental financing. Avanti Residential will manage the community directly and already operates a property three blocks north of Cheesman Park. "Denver is our home market, and we're buying here with conviction," said Jason Wine, Vice President of Acquisitions at Avanti Residential. "A building like this rarely trades, and we're proud to be its next steward." Christian Garner, President and CEO of Avanti Residential, said Park Cheesman fits the firm's centralized operating model for communities in the 80-to-120-unit range. ## Avanti's Denver Portfolio and Recent Deals According to akta.pro [company records](https://akta.pro/company-data), Avanti acquired Enclave Rigden Farm, a 105-unit townhome community in Fort Collins, Colorado, for $40.9 million, or $389,285 per unit, from Granite Capital Group in February 2026 at 95% occupancy. The same records show Avanti broke ground in December 2025 on a 78-unit build-to-rent townhome project in Denver's Sun Valley neighborhood with Prospect LLC and the Denver Housing Authority. Avanti's portfolio covers more than 12,000 units under management. ## Park Cheesman Against Other Multifamily Deals Pictet Alternative Advisors completed the acquisition of seven historic residential buildings in central Milan with Kryalos SGR, a portfolio of about 150 apartments and 26,000 square meters, with no purchase price disclosed, [finews.ch](https://www.finews.ch/news/banken/74173-pictet-mailand-wohnimmobilien-kryalos-project-galileo) reported on October 27, 2026. Sorrento Property Group acquired a 138-unit multifamily community in Tucson, Arizona, for about $10.56 million in December 2021, [TechBullion](https://techbullion.com/raphael-toledanos-sorrento-property-group-transforms-138-unit-tucson-community/) reported on October 25, 2026. Millrose Properties acquired 1,233 single-family homes from Lennar for about $333 million, [Seeking Alpha](https://seekingalpha.com/news/4658274-millrose-properties-defends-purchase-of-rental-homes-from-lennar) reported on October 27, 2026. ## East Colfax Transit and Denver Supply The East Colfax Bus Rapid Transit line, slated to open in 2027, will run three blocks north of Park Cheesman. No conventional multifamily property of 20 or more units has delivered within one mile of the site since 2020, and none is under construction, according to the release. ## Companies in this story - [Avanti Residential company profile](https://akta.pro/company-profiles/0009r7u/avanti-residential) · website: https://avantiresidential.com - [Nationwide company profile](https://akta.pro/company-profiles/0005wu7/nationwide) · website: https://www.nationwide.com - [Nationwide Life Insurance Company company profile](https://akta.pro/company-profiles/003475p/nationwide-life-insurance-company) · website: https://www.nationwide.com/life-insurance.jsp --- News for Agent · https://newsforagent.com/llms.txt