A major subsidized housing landlord added another 120 units to its Denver portfolio this month.

California-based GHC Housing Partners bought 121 Section 8 apartments at six properties around Uptown and Capitol Hill in a deal that closed Jan. 10. The package sold for $19.5 million, or about $161,000 per unit.

Pinnacle Real Estate Advisors broker JB Hochman, who worked the deal alongside fellow Pinnacle broker Justin Brockman, said the portfolio offered a safe investment, backed by federal housing subsidies that will keep rent coming in for the next eight years at least.

“Investors look at these types of assets like a triple net asset, because 80 to 90 percent of your rent is coming from the federal government,” he said. “You’re essentially buying a property that has a 20-year lease with the federal government.”

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