WESTMISNTER, COLO. — Continental Realty Advisors (CRA) has purchased the 256-unit Canyon Reserve at the Ranch Apartments in Westminster for an undisclosed price. The community is located at 2890 W. 116th Place.
The property includes 16 two-story buildings with amenities like clubhouses, a resort-style pool, gym, dog park and business center. All apartments feature wood-burning fireplaces, vaulted ceilings, deep-bath garden tubs, and private patios or balconies.
Canyon Reserve was built in 1984. CRA plans to upgrade both the common-area amenities and unit interiors as part of their value-add program. Amenity upgrades will include enhanced landscaping, new exterior paint, expansion and improvement of the pool surrounds, addition of fitness on demand, construction of a coffee lounge/patio, and expansion of the existing leasing center. Interior upgrades will consist of updated cabinetry, stainless steel appliances, plank flooring, modern lighting, hardware and paint.