M2 Apartments – The Denver Post

Published: September 26, 2012

Stoneleigh to develop 298-unit apartment project in Denver

The Denver Post | Howard Pankratz | September 26, 2012

Stoneleigh Companies LLC and Arris Investments LLC announced on Wednesday the acquisition of 13.8 acres of vacant land along with the closing of a construction loan for the 298-unit apartment project called M2 Apartments in Denver.

Stoneleigh said the property is the ninth multi-family project developed or acquired by it in the past three years and adds a new major market to its investment portfolio.

The project will be located on the southeast corner of South Balsam Way and West Stanford Avenue, according to Chic Hall, senior vice president of Stoneleigh Companies.

Rick Cavenaugh, president of Stoneleigh, said M2 Apartments “will be a unique new product in the southwest region of Denver.

“Our M2 concept will provide the highest quality of suburban living in a market that has seen no new construction since we built Monterey Apartments in 2001.”

He said the location has “tremendous retail and lifestyle amenities.”

Construction will begin on Oct. 1.

Cavenaugh said US Bank is providing the construction loan for the project and Stoneleigh’s investment partner is Arris Investments.

“The strength of the Colorado multi-family market, coupled with two great institutions as our partners, will make M2 Apartments the best new community available to the residents of Denver and Littleton,” he added.