We are delighted to showcase two of our favorite projects in Denver, Colorado.

Poets Row – Denver, Colorado

Located in the heart of Capitol Hill, Poets Row was built throughout the 1930s and 40s with the art deco and moderne styles of the time. Even as the first construction on the street, Poets Row remained a widely recognized staple of Capitol Hill due to its unique architecture and its naming convention in dedicating each building to a famous writer. Unfortunately, the on-going operations of the apartments were a casualty of Denver’s deep recession in the 1980s. Although economic uncertainty continued, we believed that given a chance Poets Row with fresh capital and perspective could be an uplifting revitalization story.

Triton acquired the asset in 1989 in a foreclosure auction. By the spring of the next year, the property was renovated and we were able to stabilize it realizing occupancy levels substantially higher than the city average. We held the 217-unit property for over 25 years during which we were able to make improvements to keep up with the changing needs of tenants and also cement its long-standing importance in Denver with a historical designation. In 2016, we sold Poets Row to a large New York City real estate fund.

The Towers – Denver, Colorado

The Towers were originally constructed in the 1950s with the intention of being a world-renowned chiropractic clinic to heal a wide array of health issues. The concept never gained traction, so the next ownership intended to convert the project into a senior living facility. That idea too was unable to be realized and the vacant, unkept building became drug and gang ridden. After years of legal battles and neglect, the lender finally decided to sell the property via an auction. Through its blemishes, we saw an asset in an up-and-coming location that had enormous potential to be re-purposed into apartments.

In the winter of 1993, Triton acquired the 250,000 square foot property at a HUD auction. By spring of 1994, we were able to reposition the asset from a public health hazard into a vibrant 120-unit multifamily community. Soon afterward, Triton purchased the adjoining two and a half acres of vacant land. We then proceeded to sell the five-acre parcel, which included both the apartment community and undeveloped land. While Triton no longer owns The Towers, we are excited that the project continues to provide a community-focused living space for Denver residents.

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