Colorado-Real-Estate-Journal_316364

Page 14 - December 7-20, 2022 www.crej.com Multifamily recent sales Details available at www.NorthPeakCRE.com WE’RE A COLLECTION OF EXPERIENCED REAL ESTATE BROKERS COMMITTED TO RELATIONSHIPS BUILT ON RESULTS. For more information on these investments or if you are interested in a free Property Valuation to see where your asset is worth in today’s market, contact us today at 720-738-1949 or Info@NorthPeakCRE.com . Email: Info@NorthPeakCRE.com | Phone: 720.738.1949 | Office: 1720 S. Bellaire St., Suite 701 Denver, CO 80222 1115 Logan Street Denver, CO 80203 $6,595,000 | 28 UNITS | 11,820 SF Just Listed Just Listed Just Listed Just Listed 7095 W 13th Ave. Lakewood, CO 80214 $3,150,000 | 14 UNITS 1424 Pennsylvania St. Denver, CO 80203 $6,900,000 | 23 UNITS 1536 Macon St. Aurora, CO 80010 $7,300,000 | 50 UNITS 1152 Emerson St. Denver, CO 80218 $989,000 | 3 UNITS 1820-1836 E 38th Ave . Denver, CO 80205 $1,440,000 | 5 UNITS 1420 W 71st Pl. Denver, CO 80221 $4,100,000 | 20 UNITS 1760 N Pearl St. Denver, CO 80203 $5,200,000 | 22 UNITS 1285 Clarkson Street Denver, CO 80218 $7,850,000 | 25 UNITS | 21,892 SF 1415 Yosemite Street Denver, CO 80220 $2,425,000 | 16 UNITS | 9,446 SF 5525 E Yale Avenue Denver, CO 80222 $3,100,000 | 12 UNITS | 10,124 SF by Jenna Walters DENVER – A high-rise apart- ment complex near Denver’s Cheesman Park traded for the first time in history. Corsican Apartments, the 82-unit multifamily building at 1330 Gaylord St., is under new ownership. The 1960s asset traded between undisclosed investors, fetching $31 million, or $378,049 per unit. CBRE’s Justin Hunt, Andy Hellman, Erik Toll, Chris Hart and Jessi- ca Graham brokered the trans- action on behalf of the seller. Rising 11 stories, Corsican Apartments offers one- and two-bedroom units averag- ing 820 square feet. Commu- nity amenities at the property include an indoor heated pool, a steam room and dry sauna, fitness center, yoga studio and resident lounge/game room. The property also boasts ample above- and below-ground parking. According to Hunt, CBRE ran a standard marketing pro- cess with a call for offers after approximately 35 days on the market. He said the prop- erty garnered s i g n i f i c a n t tour activ- ity and ultimately received 13 offers. Many prospective buy- ers were attracted to the asset’s irreplaceability due to current height restrictions in the neigh- borhood and the opportunity to execute on a significant val- ue-add strategy, Hunt noted. “Corsican offered a rare opportunity to acquire an icon- ic Cheesman Park tower that had never previously traded. This community provides some of the best views in Den- ver, a robust amenity package and has some of the greatest parking in the neighborhood,” he added. When asked if the property will undergo any immediate improvements by the buyer, Hunt declined to comment. s by Jenna Walters DENVER – An Atlanta-based developer broke ground on a $90 million multifamily project near Empower Field at Mile High in Denver. Wood Partners is underway on Alta Mile High, a 216-unit apart- ment complex at 1450 Morrison Road. Upon completion, the proj- ect will rise seven stories, featuring five levels of residential space and two levels of parking for approxi- mately 200 vehicles. The complex will offer studio, one-, two- and three-bedroom apartments aver- aging approximately 800 square feet. Community amenities will include a pool, gym, ski/bike repair center and office space for resident use. The property also will feature three separate amenity decks, including a roof deck with city and mountain views. According to Wood Partners representatives, Alta Mile High is well-positioned to attract resi- dents because of its extensive amenity package and central loca- tion, proximal to Interstate 25, the central business district, Auraria Campus, Sloan’s Lake and Lower Lakewood Gulch Park. Wood Partners is working with equity partner Bridge Invest- ment Group, lender Santander Bank, architect Studio PBA and civil engineer Kimley-Horn on the project, slated for completion in the first quarter of 2025. Alta Mile High is one of many projects that Wood Partners has worked on in Denver. The devel- oper has been active in the mar- ket since 2005, during which time it delivered approximately 3,500 units. The developer also has com- pleted similar apartment projects across the country, in states includ- ing Texas, California, Oregon, Florida, Georgia and Illinois. s Denver apartment tower sells for first time, fetches $31M Wood Partners underway on new MF near Broncos stadium Justin Hunt Corsican Apartments sold following a competitive marketing campaign. A rendering shows what Alta Mile High will look like upon completion.