The RMR Group Announces Acquisition Of A Denver Multifamily Property For $70M
Portfolio Pulse from Benzinga Newsdesk
The RMR Group (NASDAQ:RMR) has acquired The Ridge at Lowry, a 240-unit apartment community in Denver, for $70 million. This marks RMR's initial investment in residential properties. The property will be rebranded as ARIUM at Lowry and will undergo significant renovations.
August 01, 2024 | 9:15 pm
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The RMR Group has made its first residential property investment by acquiring The Ridge at Lowry in Denver for $70 million. The property will be rebranded and renovated, potentially increasing its value and RMR's revenue from residential assets.
This acquisition marks RMR's entry into the residential property market, which could diversify its portfolio and provide new revenue streams. The planned renovations and rebranding under the ARIUM brand may enhance the property's value and appeal.
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