HFF Facilitates $26M Denver Luxury Deal
- Oct 10, 2016
By Ioana Neamt
Denver—HFF facilitated the $25.5 million sale of MOTO, a Class A residential and retail asset in Denver’s Capitol Hill neighborhood. The brokerage firm marketed the mixed-use property on behalf of Elevation Development Group LLC, with Denver MOTO LLC acquiring it free and clear of existing debt.
Located at 820 Sherman St., the community was completed in 2015 and comprises 64 luxury apartment homes and roughly 3,000 square feet of ground-floor retail. Common area amenities include a second-floor pool deck and lounge, rooftop kitchen and grilling station, bike share program, bike maintenance station and reserved parking in a controlled-access garage. Unit amenities include stainless steel appliances, plank flooring and in-unit washers and dryers, among others. The ground-floor retail space is fully leased to Black Eye Coffee and Proper Barbershop, with retailers such as Whole Foods, Trader Joe’s and Safeway also nearby. The community is also LEED Gold-certified by the U.S. Green Building Council.
An HFF investment sales team led by Managing Director Jordan Robbins and Associate Director Jeff Haag represented the seller in the transaction. Denver MOTO LLC was represented by Anthony Pappageorge and Zachary LeBeous of Nermark Cornish & Carey.
“MOTO’s strategic, middle-of-town location places it within walking distance to many of the metropolitan area’s best dining, nightlife and entertainment venues, as well as employers in downtown Denver,” said Robbins in a statement.
Image courtesy of Yardi Matrix