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Elterra Investments Claims Denver’s Congress Park MF for $19M
Elterra Investments acquired Garfield Park, a 78-unit multifamily property located at 1300 and 1325 Garfield St. in Denver. The Congress Park neighborhood asset was sold by an undisclosed party for $18.9 million.
CBRE’s Robert Bratley, who represented the buyer, says, “The buyer purchased Garfield Park through a 1031 exchange after successfully completing the sale of their three-property central Denver portfolio at the end of March. Despite the inherent challenges related to COVID-19, the timing worked out well, and Elterra Investments was able to increase its unit count substantially.”
The 51,730-square-foot building, highly visible along 13th Avenue, is located less than a block from National Jewish Health and within a couple blocks of Sprouts Farmers Market as well as Congress Park bars and restaurants. Prior to the sale, the seller completed updates to several units as well as the common areas. Elterra Investments plans to further renovate all of the units with high-end finishes.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

