Hornstein & Fetter Sell 288-Unit Apartment Community in Northglenn, Colorado

Joe Hornstein and Scott Fetter, brokers at Pinnacle Real Estate Advisors, are pleased to announce the sale of Village by the Park located at 10701 Pecos Street in Northglenn, Colorado. This 288-unit apartment community, which consists of twenty-four 12-unit apartment buildings, sold for $26,000,000 on August 17, 2016. The property includes 144-1Br units and 144-2Br units and sold at $90,278 per unit and $127 per square foot. The 204,042 square foot apartment complex sits on 12.07 acre lot adjacent to Northwest Open Space operated by City of Northglenn in the Northwest Denver Submarket. The property, which was built in 1970, was 97% occupied at closing. Hornstein and Fetter represented the Sellers on this transaction.