Capstone has closed the sale of Macon Flats, a 5-building portfolio in Aurora, for the sale price of $7,100,000. Sean Holamon and Jason Koch of Capstone represented the Seller and Buyer in the transaction.
Macon Flats is 57 units with a mix of 56 one-bedrooms and 1 two-bedroom unit. The close proximity of each building has increased efficacies in management, which has led to historically low vacancies and greater control of the area’s appearance.
Macon Flats is located directly off E Colfax Ave and Macon St. The entire portfolio is blocks away from UCHealth Anschutz which is the largest job creator in the state. Another driver for the area’s growth is new housing developments towards DIA.
The Buyer plans on making the next level of renovations to modernize the entire portfolio and achieve higher rents. The Seller plans on exchanging into a newer vintage multifamily property.
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About Capstone:
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-housing investment properties. To do so, we provide comprehensive multi-housing advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-housing-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.
