Legal & General and Taurus purchase 177-unit complex in Golden
Legal & General Investment Management America, in partnership with Taurus Investment Holdings, has purchased the Outlook Golden Ridge Apartments in Golden, Colorado, for $81.88 million from Evergreen Development. The sale of the 177-unit property reflects a per-unit price of approximately $462,571.
Completed in 2015, the four-story community sits roughly 20 minutes west of downtown Denver, at 544 Golden Ridge Road. The buyers plan to rebrand the asset as The View at Golden Ridge, with Taurus set to oversee a targeted renovation plan and introduce sustainability enhancements through its EcoSmart Solution affiliate.
According to CoStar data, this transaction represents the first time the property has changed ownership.
“This acquisition underscores our focus on high-quality assets in strong, growing markets where we can create value through decarbonization efforts,” said Alexia Gottschalch, head of U.S. real estate equity and asset management at Legal & General.
The purchase is also Legal & General’s third U.S. multifamily acquisition within the past year through its partnership with Taurus, further supporting its goal of expanding private markets capabilities and meeting investor appetite for U.S. real estate equity.
For the record:
Shane Ozment, Terrance Hunt, Bradley Schlafer and Chris Hart of CBRE represented the seller, Evergreen Development.
Source: Original reporting by Alexander Beverly, CoStar News.
