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 …
Vintage Multifamily Community in Boulder Fetches Highest Price Per Unit
Henley & Remy, an 82-unit multifamily community located at 635 and 565 Mohawk Drive, minutes from the University of Colorado in Boulder, has sold for $32.3 million. At $393,900 per unit, the sale of Henley & Remy represents the highest price per unit for 1960s vintage product by more than $100,000 per unit, and …
Newly-Constructed Multifamily Property Sells in Lakewood
Alta Green Mountain, a recently completed 260-unit apartment community in Lakewood, has sold to Boston-based TA Realty for an undisclosed price. Located at 13055 W. Mississippi Court, Lakewood has emerged as one of Denver’s premier investment submarkets offering the optimal mix of access to major employment centers and proximity to …
Townhome Community in Aurora Acquired for $37.5M
Note: The purchase price has been updated A joint venture partnership between CentrePoint Properties and CenterSquare Investment Management has acquired The Point at Biscay, a 96-unit, Class A townhome community in Aurora, for $37.5 million. JLL worked on behalf of the partnership to originate a $24.375 million Fannie Mae loan with …