DEAL OF THE DAY: 49-Unit Rental Community Sold for $2.25M
- Apr 28, 2008
By Anuradha Kher, Online News EditorDenver–Hendricks & Partners recently arranged the sale of the three-building Cherry Tree Apartments, located at 1969, 1975 &1995 South Decatur St. in Denver, for $2.25 million or $45,918 per unit.The 49-unit rental community was built in 1981 and 1987. Erik Robinson and Frank Farrell of the Denver office of Hendricks & Partners negotiated on behalf of the seller, Colorado Housing and Finance Authority of Denver. The buyer was Triad Properties Limited of Englewood, Colo., which owns another apartment community in the neighborhood.Cherry Tree was 97 percent occupied at the time of closing.