Denver, CO – October 7, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 5995 W 29th Ave, located in Wheat Ridge, CO.
Principals Scott Fetter & Joe Hornstein (NorthPeak Commercial Advisors) represented both Buyer & Seller in this transaction.
“This deal worked out because the buyer is experienced with Freddie Mac debt and was able to navigate the loan assumption process with ease. Without the loan assumption the prepay penalty on this property would have been too much for the Seller to pay so finding a buyer to assume this debt was key. But there is opportunity here and I think the Buyer will do well when the current debt, and it’s yield maintenance prepay, burn off in a few years. – Scott Fetter, NorthPeak Commercial Advisors.
For more information on this investment or current market conditions, please contact Scott Fetter at 720-470-3646 or Scott@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Property Type: Multifamily
- Closed Date: October 7, 2021
- Address: 5995 W 29th Ave | Wheat Ridge, CO 80214
- Sale Price: $2,150,000
- Number of Units: 12 ($179,167/Unit)
- Property SF: 7,505 SF ($286/SF)
- Cap Rate: 5.65%
