AmCap Acquires The Gardens on Havana in the Denver MSA for $86.3 million
On October 14, 2014, AmCap Inc. acquired The Gardens on Havana (“Gardens”), a leading open-air shopping center in Aurora, Colorado, on behalf of one of its institutional investors for $86.3 million. The center features nationally-regarded retailers including Target, Sprouts Farmers Market, Kohl's, Toys“R”Us, Dick’s Sporting Goods, Petco, Ulta, Noodles & Company, Chick-fil-A, and Starbucks. Gardens measures 496,561 square feet of GLA, including ground leases, with a 98.4% occupancy rate at the time of acquisition.
Aurora’s population has grown by an impressive 25.4% since 2000 and is expected to approach double-digit growth over the next five years. Within the center’s immediate three-mile radius, the population exceeds 180,000, and with several residential projects directly abutting its location, Gardens is poised to play a central role in the Aurora community.