Multifamily Property in City Park Sells to California-Based Buyer
Vista 28, a 22-unit boutique infill multifamily property in Denver recently sold for $11.05 million to an undisclosed California-based buyer. The sales price reflects a per-unit price of $502,273.
Directors Nate Moyer and Tyler King and Senior Directors Nick Steele and John Laratta of Berkadia Denver led the transaction on behalf of the Colorado-based seller.
“Vista 28 represents another record-setting transaction for Denver where we exceeded our pricing guidance. This is a testament to the quality of the asset, location, and the strength of market fundamentals Denver continues to exhibit,” said Moyer. “We faced a rising interest rate environment throughout our marketing campaign and were able to pair the right capital source for the transaction in bringing a new-to-market out-of-state buyer.”
Vista 28 was built in 2018 and features 22 units with one office suite. Located at 2790 North Josephine Street, the property is located in the City Park North neighborhood which offers an eclectic mix of local restaurants and sits two blocks away from the beloved City Park which features 330 acres of picturesque views.