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Park 17 Near Denver’s Restaurant Row Sells for $89M
Park 17, a 190-unit class-A multifamily property located at 1210 East 17th Ave. in Denver, recently sold for $88.7 million. The buyer was undisclosed.
Completed in July 2020, Park 17 offers residents a boutique hotel-like atmosphere highlighted by a fourth-floor infinity pool overlooking the skyline.
Located in the City Park West neighborhood, the property is a short walking distance from Restaurant Row in a neighborhood that’s also home to Saint Joseph Hospital, one of Denver’s largest medical facilities. Other nearby attractions include the Denver Zoo and the Denver Museum of Nature and Science. The University of Colorado Denver and University of Denver are within a 16-minute drive.
NorthMarq represented the seller, Kairoi Residential. Dave Martin and Brian Mooney in NorthMarq’s Denver investment sales team listed and completed the sale.
And, NorthMarq’s Denver debt/equity team of David Link and Jeff DeHarty arranged acquisition financing of $54 million on behalf of the borrower through its strong relationship with a life insurance company.
“Our team was able to secure the best lender willing to get full proceeds and full-term interest-only with well-priced prepayment flexibility,” says Link.
- ◦Sale/Acquisition
