A 319-unit Boulder rental community was acquired for $159 million, close to half a million a unit. In 2016 it sold for $139 million or $435,000 a unit. Dan Woodward, David Potarf, Matt Barnett and Jake Young of Walker & Dunlop facilitated the sale.

The Colorado RE Journal reports that the seller is affiliated with Griffis Residential. Kairoi Residential was the buyer of 3100 Pearl. The complex has a mix of studios and one, and two-bedroom units ranging from 573 to 1,100 square feet. Built in 2013, the property was 96% leased at the time of the sale. It’s about a mile from the University of Colorado campus.

Kairoi Residential is a multifamily investment, development, and property management company headquartered in San Antonio with offices in Austin and Denver. Since 2003, the partnership has invested $9.7 billion in 65,000 multifamily units in many cities and states around the country.