Denver, CO – January 5, 2023 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of 1571 Beeler Street & 1641 Alton Street, Aurora, CO, 80010.
Keith Hardy and Joe Hornstein of NorthPeak Commercial Advisors represented the seller while Scott Fetter represented the buyer in this transaction.
“The buyer recognized the opportunity to acquire these two assets located in a rapidly improving submarket at a very low cost basis. Leveraging their prior experience owning and operating affordable housing, the buyer plans to implement a value-add program to improve the assets and continue serving a segment of the population in desperate need of quality affordable housing.”
– Scott Fetter, NorthPeak Commercial Advisors
“The non-profit seller needed to close this transaction before the end of 2022 to fund another project. Through a team effort and the collaboration of all parties involved, NorthPeak was able to deliver multiple offers and successfully close this transaction on the condensed timeline set out by the seller. “
– Keith Hardy, NorthPeak Commercial Advisors
For more information on this investment or current market conditions, please contact Keith Hardy at 303-396-9292 or Keith@NorthPeakCRE.com.
SALE HIGHLIGHTS
- Address: 1571 Beeler St. & 1641 Alton St., Aurora, CO 80010
- Sale Price: $6,300,000
- Closed Date: December 29, 2022
- Property Size: 74,596 SF ($84/SF)
- Units: 84 ($75,000/Unit)
- Property Type: Multifamily
