CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1888 S Garfield St., Denver, CO 80210. Greg Johnson, Conner Piretti, and Austin Bengford of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction. “The Johnson-Piretti team was thrilled to work with both the buyer and seller in getting this transaction across the finish line,” stated Bengford. “The sellers, who have owned and managed the building for the past 6 years, are looking to cash out and exchange into a more passive investment. Meanwhile, the buyers are excited to acquire a solid asset for their first multifamily investment property.” For more information on this investment or current market conditions, please contact Austin Bengford at 970-692-3008 or Austin@NorthPeakCRE.com SALE HIGHLIGHTS 🏠 Address: 1888 S Garfield St., Denver, CO 80210 💰 Sale Price: $1,300,000 📅 Closed Date: March 26, 2024 🏢 Total Units: 4 ($325,000/Unit) 📐 Property Size: 3,288 SF ($395/SF) 📈 Current Cap Rate: 5.1% 🏠 Property Type: Multifamily READ PRESS RELEASE: https://lnkd.in/gR5X_WS9 #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1270 N Logan St., Denver, CO 80203. Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the buyer in this transaction. "I'm excited for my client who is buying this property to add to his existing portfolio in central Denver," stated Sherman. "He plans to stabilize this deal by renovating the units, improving the quality of life for the tenants, and raising rents to market. At $175k/unit for this location, I think he is going to do well in the immediate and long term." READ PRESS RELEASE: https://lnkd.in/gcin6Pby SALE HIGHLIGHTS 🏠 Address: 1270 N Logan St., Denver, CO 80203 💰 Sale Price: $1,400,000 📅 Close Date: August 21, 2024 📐 Property Size: 5,110 SF ($274/SF) 🏢 Units: 8 ($175,000/Unit) 📈 Cap Rate: 5.7% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 1270 N Logan St. | NorthPeak Commercial Advisors
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 2446 Clay St., Denver, CO 80211. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the buyer while The Henry Group worked with the seller in this transaction. “The Buyer was in a 1031 exchange out of California and was looking to place equity into a market where they own multiple apartment buildings,” stated Calame. For more information on this investment or current market conditions, please contact Kevin Calame at 303-263-6260 or Kevin@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/g53d6U8Y SALE HIGHLIGHTS 🏠 Address: 2446 Clay St., Denver, CO 80211 💰 Sale Price: $2,200,000 📅 Closed Date: November 16, 2023 📐 Property Size: 5,040 SF ($436/SF) 🏢 Total Units: 11 ($200,000/Unit) 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 2446 Clay St. | NorthPeak Commercial Advisors
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1632 Franklin St., Denver, CO 80218. Austin Bengford, Greg Johnson, and Conner Piretti of NorthPeak Commercial Advisors worked with the seller in this transaction. “In what has been a challenging market, we successfully secured this off-market deal for our seller, achieving top-of-market pricing on a per unit basis,” stated Bengford. “This also marks our second Central Denver multifamily transaction with this buyer group in the last four months. Leveraging our deep connections and relationships within the neighborhood, we were able to identify the ideal asset for their exchange.” For more information on this investment or current market conditions, please contact Austin Bengford at 970-692-3008 or Austin@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/dqPiKKqv SALE HIGHLIGHTS 🏠 Address: 1632 Franklin St., Denver, CO 80218 💰 Sale Price: $1,350,000 📅 Close Date: August 17, 2024 🏢 Total Units: 5 ($270,000/Unit) 📐 Property Size: 4,382 SF ($308/SF) 📈 Cap Rate: 5.5% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 1632 Franklin St. | NorthPeak Commercial Advisors
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1326 Corona St., Denver, CO 80218. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction. "The Seller had owned this property for 28 years and felt this was time to sell and move to a more passive investment through a 1031 Exchange," stated Calame. "The Buyers are experienced with multi-family investments in the Denver area and continuing to expand their portfolio." "We are pleased to announce the successful closing of 1326 Corona Street, the first acquisition, of the Ninth Square Denver Multifamily Opportunity Fund," stated Thomas De Napoli of Ninth Square Real Estate Partners. "This transaction marks an important milestone in our strategic initiative to acquire and enhance multifamily properties in prime central Denver locations. The property, located at the nexus of the desirable Cheesman Park and Capitol Hill neighborhoods, is an 11-unit interior walk-up building acquired at an attractive basis that represents a significant discount from peak market prices. This acquisition underscores our commitment to identifying undervalued assets with significant upside potential. Our value-add strategy will include comprehensive renovations to the exterior, interior and units as well as more focused management to elevate the property's performance and market positioning. We are excited to begin the transformation of 1326 Corona Street, delivering premium living experiences for our residents and strong risk adjusted returns for our investors." For more information on this investment or current market conditions, please contact Kevin Calame at 303-263-6260 or Kevin@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/gBgAW3Ue SALE HIGHLIGHTS 🏠 Address: 1326 Corona St., Denver, CO 80218 💰 Sale Price: $2,235,000 📅 Closed Date: June 26, 2024 🏢 Total Units: 11 ($203,181/Unit) 📐 Property Size: 6,475 SF ($345/SF) 📈 Cap Rate: 5.8% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate #denver
Just Sold: 11-Unit Multifamily Property in Denver, CO Closes for $2,235,000
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1638 N Franklin St., Denver, CO 80218. Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors worked with the seller while Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors worked with the buyer in this transaction. "We got this deal done by leveraging in-house connections at NorthPeak after fully testing the open market," stated Sherman. "I was happy we were able to help my seller move on to the next chapter in her investment cycle. I think patience was key in allowing us to get this done in today's challenging market. We were able to achieve a top of market price per pound by simultaneously offering top of market returns for the buyer." For more information on this investment or current market conditions, please contact Jack Sherman at 303-903-9638 or Jack@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/dbFipnUj SALE HIGHLIGHTS 🏠 Address: 1638 N Franklin St., Denver, CO 80218 💰 Sale Price: $1,495,000 📅 Close Date: July 22, 2024 🏢 Total Units: 6 ($249,167/Unit) 📐 Property Size: 4,264 SF ($351/SF) 📈 Cap Rate: 6.28% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 1638 N Franklin St. | NorthPeak Commercial Advisors
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1110 N Clarkson St., Denver, CO 80218. Conner Piretti, Greg Johnson, and Austin Bengford of NorthPeak Commercial Advisors worked with the seller in this transaction. "This sale was the culmination of a 10-year advisement relationship with the Seller," stated Piretti. "We are pleased to have facilitated her transition from decades of hands-on management to a more passive investment strategy going forward. The sale was made to an out-of-state investor who found this opportunity through our broad marketing reach, and they will utilize our friends at Klos Management to operate the building going forward.” For more information on this investment or current market conditions, please contact Conner Piretti at (303) 818-1805 or Conner@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/gxw7pyE2 SALE HIGHLIGHTS 🏠 Address: 1110 N Clarkson St., Denver, CO 80218 💰 Sale Price: $1,585,000 📅 Close Date: September 4, 2024 📐 Property Size: 4,769 SF ($332/SF) 🏢 Units: 7 ($226,429/Unit) 📈 Cap Rate: 5.4% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 1110 N Clarkson St. | NorthPeak Commercial Advisors
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 750 Dayton St., Aurora, CO 80111. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors worked with the buyer in this transaction. "The buyer owns other properties nearby and saw this purchase as a strategic acquisition at a solid $122k/unit cost basis," stated Hornstein. "There is a good opportunity to update units and increase rental rates in the near term." For more information on this investment or current market conditions, please contact Joe Hornstein at 720-939-2943 or Joe@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/dQ7hVAfM SALE HIGHLIGHTS 🏠 Address: 750 Dayton St., Aurora, CO 80111 💰 Sale Price: $2,575,000 📅 Closed Date: January 16, 2024 📐 Property Size: 11,250 SF ($228/SF) 🏢 Units: 21 ($122,619/Unit) 📈 Cap Rate: 5.92% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate #aurora
Just Sold: 750 Dayton St. | NorthPeak Commercial Advisors
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 1050-1058 Pearl St., Denver, CO 80203. Dan Hawthorne of NorthPeak Commercial Advisors worked with the buyer in this transaction. "In 2022, these two buildings were appraised at $5.5M, reflecting the peak of the market," stated Hawthorne. "However, current conditions show a significant shift, with inventory levels remaining high and many properties not reaching the closing table. This portfolio exemplifies the market's adjustment, where properties are typically being discounted by 15% to 30% from their 2021-2022 values. Priced at $4M, this represents a 27% discount from the market’s peak two years ago. I had the pleasure of securing these properties for my client, who stands to benefit significantly given their favorable purchase price and the excellent condition of both buildings. These properties have been carefully maintained over multiple generations, reflecting the pride and care of the previous owners. The buyers plan to renovate majority of the units while preserving the buildings' historical integrity, alongside upgrading the electrical systems and replacing all galvanized plumbing.” For more information on this investment or current market conditions, please contact Dan Hawthorne at (406) 531-4246 or Dan@NorthPeakCRE. READ PRESS RELEASE: https://lnkd.in/gg-HD6GZ SALE HIGHLIGHTS 🏠 Address: 1050-1058 Pearl St., Denver, CO 80203 💰 Sale Price: $4,000,000 📅 Close Date: September 6, 2024 📐 Property Size: 17,258 SF ($232/SF) 🏢 Units: 22 ($181,818/Unit) 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 1050-1058 Pearl St. | NorthPeak Commercial Advisors
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| INVESTMENT • INSIGHTS | The commercial multifamily (5+ units) sector should experience short-term softness followed by long-term upside. Market forces setting the stage for purchase opportunities include cooling rent inflation, increased costs of ownership, a 50 year high in supply, and increasing loan delinquencies as maturing debt looks to reset at higher rates. Looking ahead we see supply dropping off late 2025 into 2026/27, and multiple economic indicators supporting robust demand for apartments. Leverage our resources if capitalizing on this window of opportunity spurs any interest in multifamily acquisition(s). • • • • The Preston Team at Keller Williams 276 Post Rd W, Westport, CT 06880 Licensed | CT & FL #multifamily #marketforces #rentinflation #costofownership #supply #demand #rates #maturingdebt #theprestonteam #theprestonteamatkellerwilliams #kwcommercial #kwgoldcoast #advisoryservices #fatherandsonrealestate
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CLOSED! NorthPeak Commercial Advisors is pleased to announce the sale of 310 W Archer Pl., Denver, CO 80223. Joe Hornstein and Scott Fetter of NorthPeak Commercial Advisors worked with the buyer and seller in this transaction. “The buyer recognized the opportunity to step into very attractive Chase assumable debt at 3.18% with over 3 years remaining,” stated Hornstein. “The sellers had completed a 1031 exchange into this property less than two years ago and decided they wanted to diversify their real estate holdings.” For more information on this investment or current market conditions, please contact Joe Hornstein at 720-939-2943 or Joe@NorthPeakCRE.com. READ PRESS RELEASE: https://lnkd.in/g-Nyccwe SALE HIGHLIGHTS 🏠 Address: 310 W Archer Pl., Denver, CO 80223 💰 Sale Price: $4,200,000 📅 Closed Date: November 27, 2023 📐 Property Size: 8,931 SF ($470/SF) 🏢 Total Units: 17 ($247,058/Unit) 📈 Cap Rate: 5.3% 🏠 Property Type: Multifamily #sale #sold #closing #realestate #northpeak #northpeakcre #multifamily #property #denver #denverrealestate
Just Sold: 310 W Archer Pl. | NorthPeak Commercial Advisors
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