$25M Sale of Class A Mixed-Use in Capitol Hill Closed by HFF
Denver, CO – Holliday Fenoglio Fowler, L.P. (HFF) recently announced that it has closed the $25.25 million sale of MOTO, a core, Class A mixed-use residential and retail property in Denver’s Capitol Hill neighborhood.
HFF marketed the property exclusively on behalf of Elevation Development Group LLC. Denver MOTO, LLC purchased the asset free and clear of existing debt.
Completed in 2015, MOTO consists of 64 luxury apartment homes and approximately 3,000 square feet of ground-floor retail. Situated on a .39-acre site at 820 Sherman Street, the property has units featuring spacious floor plans, plank flooring, stainless steel appliances, pebble or quartz countertops and in-unit washers and dryers. Common area amenities include a second-floor pool deck and lounge, rooftop kitchen and grilling station, communal work space in the lobby, bike share program, bike maintenance station and reserved parking in the controlled-access garage. The property’s street-level retail is 100 percent occupied by Black Eye Coffee and Proper Barbershop. In addition, the pedestrian-friendly property has a WalkScore® of 94 and is surrounded by retail amenities on all sides, including Whole Foods, Trader Joe’s, King Sooper and Safeway.
The HFF investment sales team representing the seller was led by managing director Jordan Robbins and associate director Jeff Haag. The buyer was represented by Anthony Pappageorge and Zachary LeBeouf of Newmark Cornish & Carey.
“MOTO’s strategic, middle-of-town location places it within walking distance to many of the metropolitan area’s best dining, nightlife and entertainment venues, as well as employers in downtown Denver,” said Robbins.
Image courtesy of HFF