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Erie apartment complex sold for $108M, renamed

ERIE – A year-old 285-unit apartment complex in Erie has been sold for $108 million, and its name changed.

EQR Nine Mile LLC, a holding company for Chicago-based Equity Residential, purchased the Outlook Nine Mile complex, on the south side of Arapahoe Road east of U.S. Highway 285, from Evergreen-287 & Arapahoe Apartments LLC, a holding company for Phoenix-based Evergreen Devco Inc. EQR then changed the name of the complex to Savanna Nine Mile.

The 12.83-acre complex features one- and two-bedroom apartments that include walk-in closets and private balconies, and the grounds include a pool, lounge spaces and grilling stations.

EQR also owns The Brodie, an apartment complex off 120th Avenue in Westminster.

Source: BizWest