The Paskin Group (TPG) is pleased to announce the purchase of our latest multifamily investment property; Peregrine Place Apartments in Denver, Colorado. This is the company’s 4th acquisition of the year totaling over $128M in new investments.
Peregrine Place is TPG’s 17th apartment community investment, which now totals over 2,500 units located in 10 cities throughout the US. TPG is excited to continue its growth in Denver; a top-tier city for growth due to its desirable culture, level of affordability, educated workforce, and pro-business state policies. Peregrine Place adds 65 apartment homes to TPG’s expanding portfolio of income-producing real estate spread throughout California, Texas, and Colorado.
This community features apartment homes and amenities that compete against newer vintage properties in the adjacent and affluent Cherry Creek neighborhood, and at a material discount. This area of Denver has desirable retail with Whole Foods less than 1 mile away. There is a great proximity to jobs both downtown at the Denver Tech Center. We have had great success owning and operating apartment communities which are the low-cost housing option and have an opportunity for improvement. We have begun adding carports, renovating the common area, and apartment home upgrades, which have been successful at our 16 other Paskin Group communities.
Michael J. Paskin, the company’s Founder and CEO stated, “My team and I feel very fortunate for The Paskin Group’s continuing success in this competitive market. We credit our incredible year to prioritizing our employees’ and residents’ safety, being disciplined in our acquisition process, and executing on a disciplined investment strategy. We take great pride in providing apartment homes for nearly 4,500 people, especially during the last 18 months when there has been so much uncertainty in the world.”
The Paskin Group is headquartered in Santa Barbara, CA and has employees spread throughout their Colorado, California, and Texas offices.