Pinnacle Announces Sale of 54 Unit Multifamily Property in Craig, CO

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Timberglen Apartments, a 54 unit multifamily property for $4,950,000 located at 3465 Douglas St in Craig, Colorado. Michael Krebsbach, Vice President, and Kenny Clarke, Associate Advisor, worked with both sides in the transaction.

“We are excited for both parties in this transaction and are pleased with the results. Through our listing process we were able to generate multiple competing offers, creating a competitive environment. This resulted in a combination of strong pricing and terms from all bidders. The Seller is looking forward to moving on and focusing on other projects. The Buyer successfully satisfied their 1031 Exchange and is picking up where the Seller left off in capturing further upside on this desirable asset in a Colorado mountain market,” said Krebsbach and Clarke.