PAMERA North America expands with Denver acquisition

New York-based PAMERA North America LLC (PAMERA NA), a subsidiary of Munich’s multi-family office PAMERA Real Estate Partners, has completed its second major U.S. acquisition by purchasing the One City Block residential and retail complex in Denver, Colorado. The acquisition, executed through a joint venture with a German family office and Intercapital Group, signifies PAMERA’s continued expansion in North America’s real estate market. PAMERA and Intercapital each hold a 5% stake in the property and will oversee asset and property management, while CBRE advised the global investment manager that sold the asset.

The One City Block property, built in 2013, is located in Denver’s popular Five Points/Capitol Hill district and boasts a LEED Silver certification. The complex includes 302 residential units with a combined floor area of approximately 20,000 square meters, alongside 930 square meters of retail space. Each residential unit averages around 62 square meters, offering a variety of urban living options within close proximity to Denver’s central business district.

To enhance long-term value and rental stability, PAMERA NA plans to implement extensive modernizations across the property. This will include upgrades to communal amenities, such as the gym, pool, and co-working areas, as well as updates to individual residential units. This strategy aligns with PAMERA’s approach to value-add investments, focusing on maximizing the potential of properties in high-growth urban areas.

This acquisition follows PAMERA NA’s first U.S. deal earlier this year with the purchase of a mixed-use property in New York City’s SoHo district. “Our acquisitions in New York and now Denver showcase our ability to swiftly respond to promising market opportunities, creating sustainable value for our investors,” said Karl Gross von Trockau, Managing Partner of PAMERA. Partner Cord Ernst added, “Our strategy of close collaboration with investors, combined with targeted asset management, is delivering strong value across the board.”

PAMERA NA’s broader strategy focuses on high-potential markets, including New York, Denver, Boston, and the Sunbelt states, where favorable economic trends support long-term growth. Their emphasis on residential and logistics properties allows PAMERA to optimize locations through targeted improvements, aiming for sustainable returns and enhanced property value.