Denver, CO – April 23, 2024 – NorthPeak Commercial Advisors is pleased to announce the sale of 1120 N Logan St., Denver, CO 80203.
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction.
“This transaction presented its unique set of challenges from the start, notably navigating a 45% vacancy rate amidst a challenging lending landscape. However, it was balanced by the property’s exceptional renovations and prime A+ location. Working closely with both the buyer and seller, we orchestrated a deal that was mutually beneficial. Utilizing short-term seller financing, we provided the buyer with the necessary runway to stabilize the property, while simultaneously enabling the seller to secure top-of-market pricing.”
– Jack Sherman, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Jack Sherman at 303-903-9638 or Jack@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 1120 N Logan St., Denver, CO 80203
- Sale Price: $3,950,000
- Closed Date: April 23, 2024
- Total Units: 18 ($219,444/Unit)
- Property Size: 9,456 SF ($418/SF)
- Current Cap Rate: 4.5%
- Pro Forma Cap Rate: 5.8%
- Property Type: Multifamily
