Transwestern Secures $23M Sale of 2 Denver Assets

By Adina Marcut

The Village Apartments

Transwestern secured the $23.2 million sale of two Denver properties, Village West Apartments, a 58-unit community in Arvada, Colo., and The Village Apartments, a 90-unit community in Lakewood, Colo. Senior Vice President Tom Wanberg and Vice President John Blackshire of Transwestern’s Denver office worked on behalf of the sellers in both transactions.

29^th Street Management LLC sold Village West to Warm Springs Holdings LLC for approximately $10.8 million. Located at 12155 W. 58^th Place, near Interstate 70, the community offers convenient access to various shopping, dining and leisure options. Village West features one- and two-bedroom units ranging in size from 725 to 975 square feet. Built in 1972, the community offers common-area amenities such as:

• fitness center
• on-site laundry facilities
• barbecue/picnic area
• indoor swimming pool
• on-site parking

Right location, right time

“Village West is in an amazing location in Arvada, near the intersection of West 58th Place and Ward Road and down the street from the recently renovated Stenger Soccer Complex,” Wanberg said in a statement. “Investors are flocking to this area, but it’s extremely difficult to find multifamily properties to purchase. The top-flight location combined with the quality renovation should produce a stable investment for this buyer for years to come.”

Bayo Vista LP sold The Village Apartments to 29^th Management for $12.4 million. Built in 1973, the community features one- and two-bedroom units ranging in size from 715 to 915 square feet. Located at 10250 W. Mississippi Ave., the pet-friendly property is minutes away from Colorado Mills Mall and offers convenient access to Belmar Shopping Center. Common-area amenities include:

• clubhouse
• laundry facility
• on-street parking
• heated swimming pool
• secured storage

Image via Google Maps

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com