The RMR Group completed the acquisition of The Ridge at Lowry for $70m.

The RMR Group, an alternative asset management company, completed the acquisition of The Ridge at Lowry, a 240-unit garden-style apartment community, for $70m. “We have strong conviction in the long-term trends favoring the US housing sector. We believe that our micro-market data analysis and high performing operating platform enable us to identify unique value add opportunities. Located in Denver’s Lowry neighborhood and situated between the highly coveted downtown Denver and Cherry Creek/Centennial sub-markets, we believe ARIUM at Lowry will offer superior access to public amenities and an improved, tenant-centric living environment. With limited new supply within the surrounding two-mile radius, RMR plans to deliver attainable living options in Lowry and contribute to the community’s growth and prosperity,” Rob Lester, RMR Senior Vice President.