In an off-market sale, Denver-based real estate investment firms Strat Ventures and Zeme Capital have acquired Lyric No. 39, a newly-built, six-story mixed-use development in Denver’s Berkeley neighborhood, from developer Alpine Investments. The $20.4 million purchase marks the first partnership between the firms and Strat Ventures’ fourth and largest investment in Denver in 13 months.
Real estate veteran Derek Conn founded Zeme Capital following his seven-year tenure at Etkin Johnson Real Estate Partners. Spencer Pariser founded real estate investment firm Strat Ventures in 2020.
“Lyric No. 39 provides a unique opportunity for residents and retailers to be in the heart of the Berkeley neighborhood,” said Spencer Pariser, founder and CEO of Strat Ventures. “We specialize in identifying assets that carry an outsized potential for success, and Lyric No. 39 undoubtedly meets all our investment criteria. We’re excited to make a lasting impact on this neighborhood for years to come, delivering a high-quality differentiated product on such a prominent corner in a growing Denver neighborhood with strong renter demographics.”
Located on the southeast corner of 39th Avenue and Tennyson Street, Lyric No. 39 offers 39 high-end studio, one-bedroom and two-bedroom apartment homes. The building includes 4,185 square feet of ground-floor retail, a rooftop terrace, structured parking for residents, modern and tasteful finishes and appliances, and unobstructed views of the Rocky Mountains and downtown Denver. The unit mix was meticulously designed to ensure larger-than-average unit sizes, which include double vanities in every primary bathroom and washers and dryers in each unit. Additionally, 25 of the 39 units have their own private outdoor space.