Pinnacle Announces Sale of 6 Property Portfolio in Broomfield
Posted on February 10, 2021
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 240, 285, 295, 310, 320 and 340 Laurel Street in Broomfield, CO. The 14-unit portfolio, consisting of 5 duplexes and 1 fourplex, sold on February 9th for a Contract Price of $2,390,000; $170,714.29 per unit and $223.97 per square foot. Jim Knowlton and Robert Lawson, Principals, and Luke Salazar, Associate Advisor, represented both the Buyers and the Seller in the transactions.
“The seller accumulated a large amount of equity over the last ~15 years acquiring these smaller properties. His focus now is to take that equity and put it into a larger multifamily building and increase his cash flow,” said Salazar.