Northmarq Arranges Sale of Alta Green Mountain Apartments
Northmarq’s Denver Multifamily Investment Sales team led by Dave Martin and Brian Mooney successfully completed the sale of Alta Green Mountain, a 260-unit multifamily community located at 13055 W. Mississippi Ct in Lakewood.
Northmarq represented the seller, and the buyer was Sagard Real Estate.
“The Alta Green Mountain transaction illustrates strong investor demand for Class A multifamily assets in coveted suburban locations in the Denver market, this community genuinely checked all the proverbial boxes from an investment perspective. Its location at the base of Green Mountain is arguably second to none in providing residents access to premier mountain biking and hiking at their doorstep, which has been a key driver of the asset’s exceptional performance,” said Mooney.
Built in 2020, Alta Green Mountain strikes the perfect balance between the convenience of city living and the freedom of the Colorado outdoors. The property features a mix of one-, two-, and three-bedroom floor plans with an average unit size of 964 square feet.
Apartment amenities include stainless steel kitchen appliances, gray mocha cabinets, washer/dryer, walk-in closet, keyless entry, river white granite countertops, glass tiled backsplash, garden tubs, balcony, and tuck under garages with driveway available for rent. Some units include mountain views and panoramic views of Denver.
50-Unit Littleton Multifamily Property Sold in Bankruptcy Auction
Colliers International Denver along with Keen-Summit Capital Partners LLC, announced that escrow has closed on the $6 million sale of the 50-unit multifamily affordable housing project at 2350 W. Main Street in Littleton, to Denver-based C2 Capital Partners. The two firms exclusively represented the property during the bankruptcy auction sale under the supervision of Sale Trustee Jeffrey Weinman.
Craig Stack, senior vice president of Colliers, stated, “Well-located multifamily assets continue to attract significant interest from the investment community and a growing number of buyers are expanding their investment criteria to include income-restricted apartments, which offer strong demand from tenants and lower turnover.”
David Levy, managing director of Keen-Summit Capital Partners, added, “Keen-Summit was able to garner interest from a significant number of prospective buyers, as the multifamily sector is rebounding in Colorado. With growing rental demand and stable occupancy rates, smaller cities and suburbs, like Littleton, are expected to have strong rental yields in 2025, making these types of properties a very attractive offer for investors,” Levy continued.
Cory Jurasits, co-founder of C2 Capital Partners continued, “We are very excited to acquire this unique property. The location on Main Street in Littleton, a cherished community, is truly irreplaceable and it fits perfectly within our mission of providing high-quality, attainable housing.”
The sale took place as part of the joint plan of reorganization of Terra Management Group, LLC and Littleton Main Street LLC, which stipulated Jeffrey Weinman be appointed as both the Sale and Litigation Trustee. Mr. Weinman was represented by Theodore Hartl from the Ballard Spahr in bankruptcy case number No 21-15245
which is pending in the U.S. Bankruptcy Court District of Colorado.
Liquor Store in Denver Sells for $4.7M
Pinnacle Real Estate Advisors, LLC announced the sale of a 5,589-square-foot retail building and liquor store business for $4.66 million located at 2035 S Broadway, Denver. Levi Saxen, advisor, and Jack Eberwein, associate advisor with The Saxen Team, represented both the buyer and seller in this off-market transaction.
“After an extensive remodel and expansion of the liquor store, we were honored to facilitate an off-market sale with a quick closing timeline. It was rewarding to see our client maximize their opportunity after many years of dedicated effort. The buyers are now positioned for long-term success, with an outstanding staff, streamlined processes, and a strong brand already in place. We want to thank all the parties, involved in this expedited transaction, whose efforts made this a successful outcome for everyone,” stated Saxen and Eberwein.
NorthPeak Commercial Advisors Brokers 14-Unit Multifamily Property in Lakewood for $2.75M
NorthPeak Commercial Advisors announced the sale of 1320 Ammons St., Lakewood. The property sold for $2.75 million to an undisclosed buyer.
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the buyer while Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the seller in this transaction.
“This property ended up being a perfect fit for my client’s 1031 proceeds from the 12-unit we helped him sell a few months ago,” stated Sherman. “This location will continue to experience growth in the future and is situated well to cash flow on day one.”
“The seller enjoyed the cash from owning this asset, but recognized this as an exceptional opportunity to realize a favorable return for themselves and their investors,” stated Calame.
Industrial Property Sells for $2.6M in Denver
Unique Properties, Inc./TCN Worldwide announced the sale of 1301 S Cherokee Street, Denver. The seller was exclusively represented by Michael DeSantis, Brett MacDougall and Carson Lang with Unique Properties, Inc./TCN Worldwide. The property sold for $1,600,000 or $144/SF.
The 11,102-square-foot building was purchased by the sellers decades ago. The property served as the home for their business up until the point of retirement. Following their retirement, the building was leased to a marijuana cultivation operation for approximately 10 years. When the tenant vacated, the sellers recognized it was the right time to sell the property and transition to a new chapter.
The property’s central location within Denver, its heavy power, and excellent access to major thoroughfares made it a highly attractive asset despite the challenges associated with the building’s layout. With a strategic marketing plan and innovative solutions, the brokers successfully closed the sale right before the close of 2024.
“While the property posed unique challenges due to its previous tenant’s buildout, our team worked diligently to highlight the strengths, such at its prime location, heavy power, and access to transportation routes, ensuring an extremely successful transaction for both parties” stated Mike DeSantis and Brett MacDougall.
