TODAY’S DEALS: Marcus & Millichap Sells Denver Area Property for $22.85M, and Other Transactions
- Sep 02, 2008
By Anuradha Kher, Online News EditorBoulder, Colo.–Marcus & Millichap Real Estate Investment Services has arranged the sale of Uptown Broadway, a 116-unit apartment community in Boulder, Colo. for $22.85 million. This represents $226 per sq. ft. or $196,983 per unit, a record price for Boulder, and one of only five deals that have sold for more than $225 per sq. ft. in the Denver metro area during the last two years.Located at 4590 13th St., the 100,940-sq. ft. apartment community consists of 10 three-story buildings with 15 unique floor plans, including one- and two-bedroom units, townhomes and lofts, situated on 2.43 acres. The property also features two underground parking garages.Built in 2005, Uptown Broadway is a 148-unit multifamily apartment community with 32 affordable housing units. In addition, there are also 41 for-sale lofts and 55 condos and live/work units.28-Unit Apartment Community Sold for $3.22MEl Cajon, Calif.–Hendricks & Partners has arranged the sale of Casa Miguel, a 28-unit apartment community located at 570 S. Mollison Ave. in El Cajon, Calif., for $3,220,000.Li Tang and Zhi Gao, Trustees of the Tang/Gao Family Trust, Song Ma and Fong Xu of San Jose, Calif. sold the property to Timothy C. Buege & Rocio del Pilar Buege, Trustees of the Buege Family Trust of El Cajon, Calif.Raleigh Student Apartments Sell for $21M Raleigh, N.C.–Ellinwood Investment Properties LLC represented a Canadian company in the $21 million disposition of Village Green Apartments (pictured) located in Raleigh, N.C. The Village Green Apartments, a luxury student housing complex built in 2003, features 156 units with 468 individually leased bedrooms serving North Carolina State and other surrounding area universities.