PAMERA North America LLC (PAMERA NA), based in New York City and a subsidiary of the multi-family office PAMERA Real Estate Partners, has concluded its second US deal by acquiring the ‘One City Block’ residential and retail complex in Denver, Colorado. The acquisition was carried out in a joint venture with a German family office and the Intercapital Group. PAMERA and Intercapital hold a 5% stake as co-investors and are responsible for the asset and property management of the property. The vendor is a global investment manager, advised by CBRE.

Background and plans
Built in 2013, ‘One City Block’ is a LEED Silver certified property in the sought-after Five Point/Capitol Hill district, close to Denver’s central business district. The property provides 302 residential units, in a total residential area of approximately20,000 square metres. The apartments have an average floor area of around 62 square metres. There is also approximately 930 square metres of retail space.

An extensive modernisation programme is to be implemented to maintain the long-term value and ensure a stable rental income. The planned works will include improvements to the communal facilities, such as the gym, pool and co-working areas, together with modernisation of the residential units.

This latest purchase follows PAMERA NA’s first successful deal in Manhattan, New York City, in which a mixed-use property in the SoHo district was acquired in spring 2024. ‘Our previous acquisitions in New York and Denver demonstrate that we can respond flexibly to market opportunities in North America, in order to create long-term value for our investors,’ Karl Gross von Trockau, Managing Partner of PAMERA points out. ‘Our approach to working closely with investors and applying our asset management expertise in a targeted manner delivers added value for all parties involved,’ adds Cord Ernst, Managing Partner of PAMERA NA.

PAMERA NA’s business model and strategy
PAMERA NA focuses on the targeted acquisition and development of real estate in dynamic markets such as New York City, Denver, Boston and the ‘Sunbelt’ states, which feature robust economic data and long-term growth potential. These regions provide excellent conditions for value-add investments.
The focus is on residential and logistics properties, which are optimised to take advantage of their locational benefits through targeted development activities such as refurbishment and repositioning. The objective is to achieve stable and sustainable returns and to maximise the development potential of the properties.

Photo: One City Block