Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Delo Apartments, a 130-unit multifamily property for $42,000,000 located at 1140 Cannon St in Louisville, Colorado. Michael Krebsbach, Vice President, and Kenny Clarke, Associate Advisor, facilitated the transaction with both Buyer and Seller.

“Our team is thrilled to announce the successful closing of Delo Apartments. This off-market transaction involved a loan assumption that provided favorable debt terms. We were in communication with the buyer a few weeks prior to putting the property under contract, and aware that they were nearing the expiration of their 1031 exchange identification period. Realizing this opportunity would be a fit for our buyer’s exchange – both financially and in the quality of real estate – we presented the opportunity. The buyer is excited to continue operations in a highly desirable market within Boulder County. The selling partnership is equally excited to move on after a successful period of ownership. During their tenure, they overcame several challenges and played a key role in transforming nearby Downtown Louisville. Despite the complexities of a loan assumption and a highly challenging market environment, we are proud to have worked with all parties to achieve a successful close,” stated Mike Krebsbach and Kenny Clarke.