OKLAHOMA CITY – Humphreys Capital has reported the completed sale of Gateway Arvada Ridge, a 296-unit multifamily development in the Wheat Ridge submarket of Denver.
The property, which was part of the portfolio of the closed-end fund known as “Humphreys Fund II,” was sold for $101.5 million.

During the 44 months that Humphreys worked with the strategic development partner, the partners attended approximately 30 public hearings for rezoning, articulating the high barriers to entry that this project’s location required. Often, larger and more complex real estate developments such as this have a more demanding entitlements process that requires time, expertise and extended community building efforts by the developer.

“This was a great project on an exceptional site. With a lot of hard work, we ended up hitting the points and strategies that we strive to deliver to our investors, our development partners, and the surrounding community,” said Todd Glass, Senior Managing Director of Investments.

About Humphreys Capital

Oklahoma City-based Humphreys Capital is a private real estate investment company that acquires, develops, and operates industrial, multifamily, office and retail properties in high-growth urban markets in the southern United States. The multigenerational team specializes in privately negotiated, midsized deals of institutional quality and manages multiple funds that provide diversified commercial real estate exposure to accredited and institutional investors.