Demand for Denver Condos Remains Strong
By Gini MacDonald, employing broker, HomeSmart Colorado 2020 has brought about dramatic and long-lasting changes to just about every area in American’s lives, including the real estate market, which has long been considered a safe haven for investment. Reports from around the country indicate the sale of multi-family units have plummeted in …
Denver Renters Rebounding While Concessions Remain High
New data shows a record number of Denver renters are searching for a new place to live on Apartments.com — the leading online apartment listing site with nearly 14,615 apartments listed in the Denver area. Prospective renters are enthusiastic about the market, searching for cheaper rents, taking advantage of increased concessions, and looking for properties with more space. …
Multifamily Development Coming to Central Park Master Plan
Mid-America Apartment Communities, a publicly traded real estate investment trust based in Memphis, Tennessee, has purchased a 26.92-acres of vacant land at the South East Corner of Central Park Boulevard and Northfield Boulevard in Denver. The tract is in the Central Park master plan, formally known as Stapleton, and is entitled for multifamily …
24-Unit Apartment Property in Denver Sells for $4.85M
The Olive Tree Apartments, a 24-unit multifamily property located at 2550-2560 Ogden Street near Denver’s historical Five Points District, have sold for $4,850,000. The 24-unit building consists of a rare mix of 1, 2, 3 & 4 bedroom units. The property is separately metered for gas & electric, and includes a tenant off-street …
Apartments Near Cherry Creek State Park Sell for $54.5M
Oak Coast Properties has acquired Retreat at Water’s Edge, a 252-unit apartment community located in Denver near Cherry Creek State Park, for $54.5 million. The company is planning to invest $2.2 million in renovations aimed at improving the marketability of both units and amenities. The purchase comes directly on the heels …
Multifamily in Downtown Colorado Springs Trades to Local Buyer
Blue Dot Place, the first for-rent, multifamily product built in downtown Colorado Springs since the 1960s, has sold for $13 million to a local buyer. The 33-unit multifamily community is located at 412 South Nevada Avenue. Newmark Director Saul Levy and Executive Managing Director Kevin McKenna represented the seller, Darsey Nicklasson and …
10-Building Multifamily Property in Northglenn Sells for $40.6M
Avanti Residential, a multifamily residential company, has sold its 230-unit Highland Way multifamily property in Northglenn, to Summit Communities for $40.6 million. Located at 11310 Melody Drive, the 155-890-square-foot property built in 1973 includes 10 buildings with studio, one- and two-bedroom units featuring fully equipped kitchens, open living and dining areas, walk-in closets …
Micro-Unit Apartments in Denver Sell for $20.4M
Economist, a micro-unit multifamily community located at 1570 and 1578 Humboldt Street in Denver, has sold to Avanti Residential, a Denver-based multifamily real estate company, for $20.4 million. The sale marks a growing trend in micro-units that provide luxury living at a more affordable price point. Built in 2018, Economist is a …
One Bedroom in Denver Sees 12.5% Y/Y Rent Decrease
According to Zumper’s November rent report, 13 out of 100 cities recorded record-breaking yearly decreases in one bedroom median last month, since Zumper started tracking median prices in 2015. The national one bedroom median rent decreased 0.5 percent last month to $1225. By comparison, in Denver, the average one bedroom rent decreased 12.5 …
Colorado Springs Apartment Community Offers Lowest Density Rate in the Area
Colorado-based developer Etkin Johnson Real Estate Partners, recently completed FalconView, a 288-unit apartment community located near the intersection of I-25 and InterQuest Parkway in Northern Colorado Springs. Situated on 19-acre parcel with only 15.1 dwellings per acre, FalconView offers the lowest apartment density rate in the area. “Every aspect of FalconView …