CBRE announced the $2.1 million sale of the Bonnie Jean Apartments located at 661 Pearl St. in Denver to Strat Ventures, a forward-thinking real estate investment firm that sources, acquire, operates and develops multifamily and mixed-use assets in Denver and surrounding sub-markets. Robert Bratley with CBRE represented the seller, a confidential investor.
“The walkability of this property is almost incomparable, with sought-after restaurants, grocery and boutique shops all within a couple short blocks,” said Bratley. “This building is in great condition with a high parking ratio and offers substantial opportunity to invest in renovating the units to meet growing demand in the area.”
Built in 1957, Bonnie Jean Apartments includes 11 units averaging 505 square feet. Amenities include on-site laundry, storage lockers, off-street parking and secured bike storage.
“This is considered an add-on deal to The Elaine Apartments at 1424 Pennsylvania St., which we acquired at the end of 2020,” said Spencer Pariser, CEO and co-founder of Strat Ventures. “As investors, our approach has been honed through years of experience analyzing key demographics and studying market and cultural trends, which allows us to better identify and capitalize on opportunities like these in the market. We look forward to building on our portfolio here in Colorado with additional well-located multifamily properties at an attractive basis.”
Located less than one mile from downtown Denver in the Governor’s Park neighborhood, Bonnie Jean Apartments is ideally positioned near Trader Joe’s and a number of local restaurants including Carboy Winery, Angelo’s Taverna, Odyssey Italian, Luca and Vesper Lounge, among others.
This property is the second addition to the Strat Ventures Front Range portfolio since entering the market last year.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Strat Ventures
Founded in 2020, Strat Ventures is a real estate investment firm that sources, acquires, operates and develops multifamily and mixed-use assets in Denver and surrounding sub-markets. Leveraging a strong understanding of market and demographic trends, Strat Ventures turns properties into desirable, well-performing assets that add value to neighborhoods while executing upon the most profitable business plan for assets. To learn more, please visit www.stratventures.com.
