Pinnacle Announces the Sale of a Central Denver Multifamily Portfolio
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of a Denver multifamily portfolio consisting of three buildings; 1205 Washington Street (YOC 1924), 1218 Clarkson Street (YOC 1904), and 3300 Clay Street (YOC 1942). These properties are located in two of Denver’s strongest rental markets; the heart of Capitol Hill and Highland. The portfolio was comprised of a 35-unit studio building, a 7-unit converted mansion, and a four unit. The portfolio sold on August 8, 2018 for $6,500,000, $317.38 per square foot and $141,304 per unit. Jeff Johnson, with the Johnson Ritter Team, and Peter Sengelmann, worked with both Buyer and Seller in this transaction.
“The Buyer acquired the properties to expand their existing portfolio of Denver apartments,” stated Jeff Johnson, principal at Pinnacle Real Estate Advisors.
“The Sellers had two specific goals in mind when they decided to list their portfolio for sale. We were happy to help them accomplish both, including doubling their cash flow,” stated Peter Sengelmann, Advisor with Pinnacle Real Estate Advisors.