DRG continues to build a leadership position in Aurora, CO with its recent acquisition.
DRG added to their growing North Aurora investment portfolio with the acquisition of a 24-unit apartment community on Tuesday. The apartments, located at 1732, 1733, and 1734 Paris Street, neighbor DRG’s 120-unit Gardens on Paris apartment complex. These properties are adjacent to Peoria Street and next to the expanding Fitzsimons Medical Campus. With this acquisition, DRG and their partners now own and manage nearly 700 units in Aurora, which range from single-family homes to 100-unit+ apartment communities. DRG continues to be one of the largest operators in North Aurora and plans to expand its portfolio as new opportunities become available. While DRG typically invests using a “buy and hold” strategy, they plan to sell some of their smaller assets as the market remains strong.
“We purchased our first Aurora property in 2010. At that time, we were acquiring single-family homes for under $100,000 per house, and apartments for $40,000 per unit. Times have changed; however, we are still seeing viable opportunities that meet our investment and return criteria as rents continue to rise in this sub-market,” says Zack Kobilca, Founder and Managing Partner of DRG.