Allison Terrace Apartments / The Reserve at Water Tower Village
Arvada, CO

Size: 60 Units
Acquisition and renovation cost:
$2,600,000 (2003)

Triumph teamed up with Millennium Realty Advisors in the acquisition of Allison Terrace Apartments in Arvada, Colorado. The attraction to this 59-unit complex, which was acquired at less than $39,000 per unit, is that it was about to be surrounded on three sides by the Water Tower Residential Village, an all-new multifamily development just south of Olde-Town Arvada.  Triumph managed the complete renovation of both interior and exterior spaces as well as making sit improvements in concert with the Arvada Urban Renewal Authority, and the property was re-named The Reserve @ Water Tower Village.   Since the completion of renovations, the property has consistently experienced near-full occupancy and briskly rising rental rates.