Township Capital and Epic Investment Services have acquired Willowbrook Apartments, a multifamily property in greater Denver, Colorado. No financial terms were disclosed.
BEVERLY HILLS, Calif., Aug. 17, 2021 /PRNewswire/ — Township Capital and Epic Investment Services (“Epic”), announce the acquisition of Willowbrook Apartments (“Willowbrook”), located in greater Denver, Colo. This marks the second acquisition in Epic’s U.S. Multifamily Fund I (“Fund I”) with Township Capital as a lead investor. Fund I aims to acquire garden-style multifamily properties in select markets targeting strong demographics, durable employment and other value-add characteristics.
“We see significant potential for value creation at Willowbrook,” said Jeffrey Kohn, Co-CEO of Epic. “There are comprehensive renovation plans in place, which we expect will bolster operating cashflow, positioning the asset for a strong exit.”
Township has experienced the results of sourcing the right product for Epic’s U.S. Multifamily Fund I firsthand.
Willowbrook consists of 95 units across four buildings and is currently 100% occupied. The complex is strategically located less than one mile away from the Westminster Light Rail Station, providing commuters quick access to Union Station in downtown Denver and connectivity to all areas of Metro Denver.
“We are proud to be a part of this deal with Epic. Township has aligned with the strategy backing Fund I and experienced the results of sourcing the right product for the fund firsthand,” said Matthew Gorelik, CEO at Township Capital. “The value creation model delivers exceptional results, which is important to Township’s role as a lead investor in Fund I. We have sought opportunities in the multifamily sector given how resilient it has remained even while transitioning out of the pandemic.”
There are extensive value-add implementations slated to occur at Willowbrook. Nearly half of the units will be newly renovated in addition to common area amenity upgrades, in-line with what prospective tenants are demanding in the marketplace.
Earlier this year, Township participated in Epic’s U.S. Multifamily Fund I as a lead investor with $60 million of equity commitments.
About Township Capital, Inc.
Township Capital, LLC is a leading co-GP real estate investment firm headquartered in Beverly Hills, CA. Founded by CEO Matthew Gorelik in 2014, the firm has experience investing across all major property types with a specialty in student housing, senior living, multifamily, and industrial. For more information on Township Capital, visit townshipinc.com.
About Epic Investment Services
Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Epic’s Canadian head office is located in Toronto, Ontario and its U.S. head office is located in Denver, Colorado. Epic’s portfolio comprises over 30 million square feet and $17.5 billion in assets under management in office, retail, industrial and multi-family residential properties.