Three Denver Apartment Communities Acquired by RedPeak Properties
The three Denver Wash Park Neighborhood properties sold for a combined price of $23.5 million ($293,750 per unit). The portfolio comprises 80 units from complexes that were built between 1953 and 1960. Arel Capital from New York was the seller. They were represented by Colliers. Denver-based RedPeak was the buyer.
Colliers Craig Stack described the transaction, “The seller completed a very attractive and well thought out renovation during their ownership which resulted in premium rents and pricing for the property.”
The three properties are located within a few blocks of each other and all are just minutes away from 115-acre Washington Park.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.