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Brinkman Sells Denver Apartment After 3 Year Hold
Brinkman Real Estate bought the Windom Peak Apartments in Metro Denver for $20.6 million in 2019, and last week sold the asset for $24.65 million. Built in 1964, the workforce housing property has 94 units. The sale netted $262,000 a unit.
Brinkman took advantage of the Multifamily Green Advantage Program, which requires borrowers to make “green” upgrades to reduce water and energy consumption by at least 30%. Over the course of the company’s ownership, they added an energy efficient boiler, improved insulation and changed out high-water use fixtures.
After originally planning on a ten-year hold of Windom Peak, they sold early, “We’re always keeping an eye on the market, and we act quickly in the best interest of our investors,” said Kevin Brinkman.
The company’s holdings include multifamily, office, hospitality and retail assets.
- ◦Sale/Acquisition
