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Peak Properties Breaches Out to Denver, Realizes 35% IRR on Sale
Chicago based Peak Properties has sold a 17-unit multifamily building in the Capital Hill neighborhood of central Denver. The buyer wasn’t disclosed.
The building at 1010 Emerson was purchased by Peak Properties and its investors in 2019 for $3,150,000 as a value-add investment opportunity. Peak’s team executed a renovation plan and closed a sale for $4,150,000 to a California real estate group.
Investors realized over a 35% annual IIRR on the sale.
“Does an IRR even matter with this annual return?” said managing partner Mike Zucker. “We have taken the expertise we’ve built over the past 20-plus years in the Chicago market and applied that to Denver and we will be relentless in our pursuit of other opportunities in Denver and other strategic markets.”
Peak Properties currently manages more than 8,000 units in the Chicago area.
- ◦Sale/Acquisition

