A 26-unit apartment complex in Boulder has sold for $15.6 million, setting a new record for per-unit pricing on apartment complexes in Colorado.
17 Walnut, located at 1707 Walnut St. in Boulder, sold for $600,000 per unit, the highest-ever per-unit price in Colorado and the largest for a non-coastal asset in the U.S. since 2015, according to ARA, A Newmark Company, which represented developer Element Properties in the sale.
Element finished construction on the property in 2015. Manhattan-based Rivendell Global Real Estate purchased it.
The sale eclipses the per-unit price of both the November 2016 sale of Solana 100 Pearl for $426,332 per unit and the June 2016 sale of 1000 Speer, formerly called The Joule, for $535,714 per unit.
Read more at the Denver Business Journal: http://bit.ly/2oVjCJP