the-grove-at-cherry-creek-park

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6107 S Parker Road, Centennial, CO 80016

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Investment Advisors

CONTACT Info

Mortgage Bankers

Christopher Ellis

Senior Managing Director 303.689.8317 christopher.ellis@berkadia.com

Robert Bratley

Managing Director 541.729.9667 robert.bratley@berkadia.com DRE #100039008

Pam Koster

Senior Managing Director 303.981.3622 pamela.koster@berkadia.com DRE #100045388

Mike Grippi

Senior Managing Director 303.888.3876 mike.grippi@berkadia.com DRE #40033945

LOCATION

Berkadia is pleased to present the exclusive listing of The Grove at Cherry Creek Park (“The Grove”), a 216- unit, 2001-vintage garden-style apartment property located in highly desirable Centennial, Colorado. Centennial boasts a diverse industry base, robust retail market, educated workforce, and an all-around sought-after quality of life.The Grove is well-positioned to capitalize on the area’s limited supply. Only 1,973 units have been added to the Centennial submarket in the last ten years, representing just 1.6% of metrowide deliveries. Reinforcing this scarcity, no market-rate units have been delivered in the last two years, and there is currently no new construction within a three-mile radius of The Grove.The Grove is situated within the Cherry Creek School District, the most sought after and prestigious public school district in metro Denver. This strategic location combines with the idyllic natural surroundings of Cherry Creek State Park and the affluent demographics of the submarket to make The Grove at Cherry Creek Park one of the most unique investment opportunities in Denver today.To date, 127 units, or 59%, of units have been renovated. Clear opportunity exists to continue upgrading units to the “next level,” potentially achieving higher rents and significantly boosting NOI.

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Location

216 Units Year Built: 2001

1331 17th Street 10th Floor Denver, CO 80202

Denver Office  

INVESTMENT HIGHLIGHTS

Strategically located within Denver’s Southeast Business Corridor which stretches from the Denver Tech Center to Meridian International Business Center and represents 30% of Colorado’s GDP with over 245,000 employees. Major Fortune 500 headquarters in the area include Arrow Electronics, QVC Group, and Newmont Mining, as well as major hubs for Charles Schwab, Kiewit, Sierra Nevada, and many others.

The excellent schools and convenient proximity to major employers have attracted an affluent resident base to the area, with the average household income of $178,505 and 47% of households earning over $150,000 annually, all within one mile.

Residents of The Grove benefit from being within Cherry Creek Schools, the highest-rated district in metro Denver. Students living at The Grove are assigned to Grandview High School, ranked among the Top 5 in Metro Denver and Top 10 in Colorado by niche.com, with both the assigned middle and elementary schools rated A- or higher, ensuring exceptional education at all levels.

Current and previous ownership has renovated 127 units to compete with newer product in the submarket. Renovations include white kitchen cabinets, stainless steel appliances, new plumbing fixtures, two-tone paint, upgraded lighting, and quartz countertops. The remaining units have a mix of upgrades, including 49 that are still original.

Over the past 10 years, only 1,973 units (1.6% of metro wide deliveries) have been added to the submarket. Further reinforcing this scarcity, over the last two years, there have been zero market-rate deals delivered, and currently, there are zero units under construction within a three-mile radius of The Grove. The confluence of high for-sale costs and limited supply has significantly boosted rental demand, driving average rents above the Denver MSA and projecting occupancy to average 95% over the next decade.

Employment Concentration

Affluent Community

Cherry Creek Schools

Value-Add Opportunity

Strong Submarket Fundamentals

PROPERTY INFORMATION

Address: 6107 S Parker RoadCity, State, Zip: Centennial, CO 80016County: ArapahoeUnits: 216Year Built: 2001Number of Buildings: 10Stories: Three-story, garden-style productGross Leasable Area: 200,856 SFAverage Home Size: 930 SFOccupancy: 94.4%Financing: Free & ClearCovered Parking: 130 Spaces / $45/monthDetached Garage: 80 Spaces / $120/monthSurface Parking: 169 SpacesParking Ratio: 1.75

6107 S Parker Road | Centennial, CO 80016

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