Pinnacle Announces the Sale of Shady Brook Apartments
Josh Newell, Principal and Kevin Calame, Principal at Pinnacle Real Estate Advisors, LLC, announce the sale of 3655 S Pennsylvania Street in Englewood, Colorado. The 38-unit building sold on November 7th with a contract price of $5,100,000; $134,211 per unit and $257.90 per square foot.
Kevin Calame, with the Calame Lewallen Team, represented the Seller in the transaction and Josh Newell, of the Newell Team, represented the Buyer.
“Sellers felt this was a great opportunity to achieve a good sales price in this market and moving that money into a more passive NNN retail deal,” stated Kevin Calame. Josh Newell commented that “This acquisition completed the Buyer’s 1031 exchange and fit perfectly into his portfolio. Shady Brook is in great condition and had respectable in-place rents.”