Pinnacle Announces Off-Market Sale of 52-Unit Portfolio in Denver
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 1635 & 1671 Cook Street, and 1620 Adams Street in Denver, CO. The 52-unit, value-add portfolio, built in 1960 & 1968, sold on March 25th for a Contract Price of $15,000,000; $288,462 per unit and $499.62 per square foot. The properties, located in the City Park neighborhood, sold at a 3.04% CAP Rate. Robert Lawson and Jim Knowlton, Principals at Pinnacle Real Estate Advisors, represented the Sellers, and Joe Hornstein and Scott Fetter, Principals at NorthPeak Commercial Advisors, represented the Buyer in the transaction.