Denver Mixed-Use Trades for $25M
- Jan 19, 2018
Allante Properties has completed the sale of Highland Place, a mixed-use property in Denver, to Denver Regional Investment Properties LLC for $24.5 million. Transwestern represented Allante in the transaction.
Located at 3372 W. 38th Ave., the 68-unit asset features studio, one- and two-bedroom floorplans ranging from 378 to 959 square feet. The LEED Silver-certified building was constructed in 2015 and is currently 94.1 percent occupied, according to Yardi Matrix. Apartment features include washer/dryers, above standard ceiling heights, dual-pane glass, high speed internet access, private balcony/patios and views of downtown Denver and the Rocky Mountains. Residents have access to amenities such as:
- fitness center
- 143 parking spaces
- electronic charging stations
- rooftop terrace
- 11,435 square feet of ground floor retail
“It’s not often a buyer has the opportunity to purchase such a jewel of an investment as Highland Place,” Tom Wanberg, senior vice president with Transwestern, told Multi-Housing News. “It is a unique combination of a spectacular location, feeding off the high energy of the Tennyson and 32nd Districts, and superior design and build-out. We expect that it will be a treasured asset for years to come.”
Wanberg, along with John Blackshire, Brad Cohen and Larry Thiel represented the seller. In November, Wanberg and Blackshire also facilitated the sale of two more Denver multifamily communities: Village West Apartments in Arvada, Colo. and The Village Apartments in Lakewood, Colo., for $23 million.
Image courtesy of Transwestern