Golden Triangle apartment complex sells for $60 million

DENVER BUSINESS JOURNAL - Via Apartments, an 200-unit complex developed by local firm Pauls Corp., has been acquired for just over $60 million, according to Denver County public records.

In addition to the residential units, the seven-story Via includes 4,220 square feet of ground-floor retail at 828 Broadway in Denver's Golden Triangle area. Construction on the project was completed in 2015 and rents in the complex range from $1,437 per month to $2,975 per month with an average rent of $1,785.

Via sold for a per-unit price of roughly $300,000, much lower than the record-setting price fetched by 1000 Speer, which was sold for $535,714 per unit last year and is located about half a mile away from Via, but the price is still on the higher end on a per-unit basis, said Terrance Hunt, vice chairman at ARA, A Newmark Company, which listed Via.

The property received a number of offers, Hunt said, as it is located in a highly visible area along Eighth Avenue between Broadway and Lincoln Street, which are two major arterials for commuters to and from downtown Denver.

Read more at the Denver Business Journal: http://bizj.us/1p867o

(© 2017 American City Business Journals. All rights reserved.)


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment