Denver, CO – June 22, 2022 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of the Avon Apartments located at 2850 & 2880 S Federal Blvd., Denver, CO 80236.
Scott Fetter and Joe Hornstein of NorthPeak Commercial Advisors represented the buyer in this transaction.
“Our buyer is a well-capitalized non-profit seeking to end homelessness among veterans in the Denver area. We contacted the Seller on behalf of our buyer and the stars aligned. These properties were built over 50 years ago by the same family that operates them today. The decision among the family to finally move on from the properties aligned perfectly with the timing for our Buyer. More importantly to the Seller, these wonderfully maintained properties will now go to an operator with an affordable housing agenda. This was an excellent pairing of Buyer/Seller and property and we were thrilled to help pull it all together.”
– 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
- Address: 2850 & 2880 S Federal Blvd., Denver, CO 80236
- Sale Price: $19,800,000
- Closed Date: June 15, 2022
- Number of Units: 99 ($200,000/Unit)
- Property SF: 75,662 SF ($261/SF)
- Property Type: Multifamily
