Pinnacle Announces All Cash Sale in Arvada

Robert Lawson, Principal, and Luke Salazar, Senior Advisor, with the Knowlton Lawson Team at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of 5532 Newland Way in Arvada, CO. The 14-unit property sold all cash on May 15th for a Contract Price of $2,600,000; $185,715 per unit. The value-add property, consisting of all 1Br/1Ba units, sold all cash at a 4.07% CAP rate.

“Our proven track record in the Arvada multifamily market is a testament to our strong relationships and personal knowledge of this exciting submarket. We know this little pocket really well and the asset was simply underperforming compared to other similar assets. This made it extremely difficult to get any decent financing options in today’s volatile lending market. Fortunately, the Buyer has a deep history of turning around underperforming properties that need heavy value-add renovations. Their proven reputation in revitalizing assets and demonstrating unrealized returns made it a clear choice to pursue an all-cash transaction and eliminate any debt risks,” said Lawson.

“We are very excited to announce the successful completion of this all-cash transaction and were able to overcome numerous hurdles and navigate through a highly challenging market environment. Notably, the achieved in-place CAP rate of 4.07% reflects pricing that is nearly impossible with current interest rates and lending requirements. The Seller is exchanging into a NNN investment, which is set to deliver increased cash flow and reduced overhead,” said Salazar.