Jim Knowlton, Owner/Principal at Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of 407, 421, 422 29^th Street in Denver, CO. The 34-unit property, comprised of (25) one-bedroom units, (6) two-bedroom units and (3) three-bedroom units, sold on April 28^th for a contract price of $5,975,000 ($175,735 per unit; $260 per square foot). The property’s debt—maturing in four years at a 150 bps discount to spot rates—afforded the Buyer an enhanced cash-on-cash return from day one, while justifying an elevated purchase price for the Seller that outperformed recent market benchmarks.  Jim Knowlton worked with both the Seller and the Buyer in the transaction.

For more information on this sale please contact Jim Knowlton at 303-962-9543 or JKnowlton@PinnacleREA.com.