DENVER – Transwestern’s Denver office today announces it brokered the sale of two multifamily properties totaling 148 units. Transwestern Senior Vice President Tom Wanberg and Vice President John Blackshire represented the seller in both transactions.
29th Street Management LLC sold Village West Apartments, a 58-unit apartment complex at 12155 W. 58th Place in Arvada, Colorado, to Warm Springs Holdings LLC for more than $10.82 million. The property was built in 1972 and has a mix of one- and two-bedroom units ranging in size from 725 square feet to 975 square feet. The complex amenities include an indoor swimming pool, laundry room, sauna, and newly added fitness center.
“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,” said Wanberg. “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, a 90-unit apartment complex at 10250 W. Mississippi Ave. in Lakewood, Colorado, to 29th Management for more than $12.4 million. The property was built in 1973 and has a mix of one- and two-bedroom units ranging in size from 715 square feet to 915 square feet. The complex amenities include a swimming pool, clubhouse with BBQ pits, and carports.
“This property is one of the rare Denver communities to be right next door to a water feature – in this case the Main Reservoir – with an accessible walking path for residents,” said Blackshire. “The buyer has invested in a fantastic value-add opportunity, with upside for improvements, spacious units and a terrific location.”
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Denver office, follow @TranswesternCO.