Denver, CO – August 17, 2022 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1536 Macon St., Aurora, CO 80010.
Keith Hardy of NorthPeak Commercial Advisors represented the buyer while Scott Fetter and Joe Hornstein of NorthPeak Commercial Advisors represented the seller.
“After a run of successful investments, the Seller has made the decision to divest his holdings in North Aurora. 1536 Macon traded at a competitive cap rate during a time where many transactions are falling apart due to lending problems. Working closely with the Buyer we were able to navigate several hurdles and get this deal to the closing table at the high end of sale comps in the Aurora submarket.”
– Scott Fetter, NorthPeak Commercial Advisors.
“Our Buyer is excited to add this asset to their rapidly expanding multifamily portfolio in Aurora due to its proximity to the Anschutz/Fitzsimons Medical Campus and several other nearby catalyst developments. The buyer plans to capitalize on continued year-over-year rent growth in this rapidly improving submarket through implementation of their proven value-add program and superior management strategy.”
– Keith Hardy, 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
- Address: 1536 Macon St., Aurora, CO 80010
- Sale Price: $7,300,000
- Closed Date: August 12, 2022
- Number of Units: 40 ($182,500/Unit)
- Property Size: 25,422 SF ($287/SF)
- Property Type: Multifamily
