Denver, CO – September 15, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of Aspen Arms, a 34-unit apartment building located in Denver, CO.
Senior Advisors Greg Johnson & Conner Piretti (NorthPeak Commercial Advisors’ Johnson-Piretti Team) represented both the Seller and the Buyer in this transaction.
“We’ve seen this property more than triple in value,” said NorthPeak’s Greg Johnson. He noted that his clients purchased the building through him in 2007 for $2,275,000. Johnson continued, “It’s very satisfying to contribute to a client’s success, and the new owners are going to do very well also.”
Conner Piretti added, “We received ten offers for the property and were able to close it for over the list price.”
For more information on this investment or current market conditions, please contact Greg Johnson at 303-810-1328 or Greg@NorthPeakCRE.com.
SALE HIGHLIGHTS
Property Type: Multifamily
Address: Aspen Arms | 335 N Sherman St, Denver, CO 80203
Closed Date: September 15, 2021
Sale Price: $7,300,000
Number of Units: 34
Price / Unit: $214,706
Building Size: 19,540 SF
Cap Rate: 4.4%
