Pinnacle Announces the Sale of Observatory Park Apartments in Denver

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of 2035 South Josephine Street located in Denver, CO. The 21,674 square foot, 40 unit multifamily building sold for $6,850,000 or $316 per square foot and $171,250 per unit. Kevin Calame, Principal, represented seller, Old Faithful Properties, LLC in the transaction. The buyer was Michael Blackman.

“The seller saw an opportunity to sell at a favorable price and trade into a more passive retail investment property,” stated Calame.