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Monarch sells 153-unit Fox Hill Apartments in Golden, Colorado
The 1972-built community sold for $32 million, after nearly 30 years of ownership by Monarch Investment & Management Group.
Monarch Investment & Management Group has sold Fox Hill Apartments, a 153-unit garden-style community in Golden, Colorado, for $32 million, according to ConnectCRE.
Sierra Parkway Communities was the buyer, while JLL represented Monarch in the transaction.
JLL said the 1972-built property offers a value-add opportunity, including the ability to renovate 100% of unit interiors to a standardized scope and enhance outdoor amenity spaces.
The deal highlights pricing dynamics in the surrounding area, where JLL noted average in-place rent of $1,645, versus a $908,000 median home price within one mile of the community.