DTC apartment complex sells for nine figures

pearl at dtc

The Pearl at DTC apartment complex in Denver sold for $122 million. (Thomas Gounley)

The developer of a 408-unit apartment complex in the Denver Tech Center has sold it in a nine-figure deal.

San Francisco-based Carmel Partners unloaded Pearl at DTC at 7571 E. Technology Way in Denver this week for $121.8 million, according to county records.

The buyer was Goldman Sachs Asset Management, acting as 7571 Technology Way Owner LLC.

Pearl at DTC is located just north of the Belleview Avenue exit off Interstate 25. The complex, constructed in 2014, comprises 400,000 building square feet, according to Carmel’s website.

Carmel has developed six apartment projects in the Denver area, according to its website, and sold four of them. The company continues to own The Palmer at 310 Inverness Drive S. in Englewood, and The Henry at 201 E. Mississippi Ave. in Denver.

Earlier this year, Carmel paid $30 million for 4.6 acres of land in RiNo.

pearl at dtc

pearl at dtc

The Pearl at DTC apartment complex in Denver sold for $122 million. (Thomas Gounley)

The developer of a 408-unit residential project in Denver has unloaded the property for more than $100 million.

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more information, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

26393

Leave a Reply

Your email address will not be published.