Denver, CO – October 14, 2024 – NorthPeak Commercial Advisors is pleased to announce the sale of 4630 E Asbury Cir., Denver, CO 80222.
Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the seller while Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the buyer in this transaction.
“This was a prime example of my seller trusting my team through the full listing process and being patient to get to the desired outcome in a challenging market. We were able to get this done using multiple marketing campaigns, strong lender relationships and leveraging NorthPeak’s expansive network of investors for Denver multifamily.”
– Jack Sherman, NorthPeak Commercial Advisors.
“The buyer was looking to diversify their investment portfolio and felt Asbury would accomplish that goal. The location, condition, and opportunity moving forward with this asset was appealing to this investor.”
– Kevin Calame, 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: 4630 E Asbury Cir., Denver, CO 80222
- Sale Price: $2,375,000
- Close Date: October 11, 2024
- Total Units: 12 ($197,916/Unit)
- Property Size: 8,649 SF ($275/SF)
- Current Cap Rate: 5.2%
- Pro Forma Cap Rate: 6.7%
- Property Type: Multifamily
