Denver-based real estate investment company BMC Investments has been chosen by Invesco, a leading investment advisor, along with Los Angeles-based Prism Places, for a redevelopment project in Denver's Cherry Creek North. The project aims to transform the site into a mixed-use development, replacing parking lots and big-box stores with new housing and commercial spaces.
BMC Investments and its capital partners will maintain ownership of the 14 properties in the portfolio. The company, known for its vertically-integrated approach, has recently sold its property management division to focus on its core real estate investment activities.
The partnership between Invesco and BMC Investments marks a significant step in the revitalization of Denver's Cherry Creek North area. The project's vision includes the demolition of existing structures to make way for a vibrant, modern community that combines residential, retail, and office spaces.
Matt Joblon, CEO of BMC Investments, expressed his excitement about the collaboration, stating that they presented their proposal taking into account all the necessary constraints. This partnership showcases the confidence that Invesco has in BMC Investments' expertise and reputation in the real estate industry.
With the redevelopment initiative, BMC Investments aims to contribute to the ongoing evolution of Denver's housing market. The project aligns with the changing needs of residents and attracts new inhabitants to the area, ultimately shaping the future of Denver's real estate landscape.
The Denver Business Journal highlights the impact of this redevelopment project in the context of the "Great Migration." While the concept of people relocating to urban areas is evolving, the housing market continues to play a crucial role. The transformation of the Cherry Creek North site into a housing-anchored project reflects the changing demands and preferences of modern residents.
BMC Investments has been expanding its presence in the real estate market, with Atlanta being one of its target locations. Since entering the Atlanta market in 2015, the company has invested in 33 properties, accumulating a total of 6,870 multifamily units in its portfolio. This growth signifies the company's commitment to strategic investments in key markets.
