CBRE Arranges $46M Sale in Denver
- Jan 29, 2020
CBRE Capital Markets has closed the sale of Torrey Pines, a 235-unit community in Denver, Colo. Marble Partners acquired the asset from Vukota Capital for $46.2 million. The property last traded in 2017, when Vukota Capital acquired it from Friedkin Realty Group for $38.8 million, according to public records.
The brokerage team consisted of CBRE Executive Vice Presidents Dan Woodward and David Potarf, along with Senior Vice President Matthew Barnett.
Located on 11.4 acres at 7575 E. Arkansas Ave., the 15-building property was completed in 1980. The community recently underwent a capital improvement program that included new roofs, a modernized clubhouse, a renovated gym, pool upgrades, a dog park and 411 parking spaces.
The transit-oriented property is 7 miles southeast of downtown Denver and approximately 6 miles north of Denver Tech Center, a local employment hub. Additionally, multiple shopping and dining options are available within walking distance.
Last December, the same CBRE brokerage team closed the $34.3 million sale of Fox Crossing, a 220-unit affordable housing community also located in Denver.