Buildings on 16th Street Mall sell for $32.5M

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Clothing retailer Ross Dress for Less occupies the ground floor of the building at the corner of 16th and Stout streets. (Thomas Gounley)

A building along Denver’s 16th Street Mall and an adjacent structure on a side street have changed hands in a $32.5 million deal.

San Francisco-based FPA Multifamily, acting as FPACP3 Denver Lofts LLC, purchased 1543 Stout St./800 16th St. and 1531 Stout St. last week, according to county records.

Berkadia Commercial Mortgage provided financing for the deal.

The 1543 Stout St./800 16th St. parcel is on the corner of 16th and Stout streets. Clothing store Ross Dress for Less operates on the ground floor of the three-to-four-story structure.

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The six-story building at 1531 Stout St. has Indian and Italian restaurants, as well as a cellphone repair shop, at the street level. (Thomas Gounley)

The 1531 Stout St. parcel is home to a six-story building, with apartments on the upper floors plus Indian and Italian restaurants, along with a cell phone repair shop, at the street level.

Rio Grande Denver LP and AT Lewis LP sold the parcels. Craig Stack and Bill Morkes of Colliers International represented the seller.

A FPA Multifamily executive did not respond to a request for comment. The company said on its website it has a portfolio of approximately 25,000 apartments.

FPA’s recent moves in the Denver market include selling a 132-unit apartment complex in Glendale for $22.9 million in April and paying more than $60 million for two complexes in Broomfield late last year.

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Clothing retailer Ross Dress for Less occupies the ground floor of the building at the corner of 16th and Stout streets. (Thomas Gounley)

San Francisco-based FPA Multifamily adds to its local portfolio, which includes Glendale and Broomfield sites.

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