Apartment complex on Glendale border sells for $27M

redpeak hotel

The apartment complex at 818-848 S. Dexter St. in Denver sold for $26.75 million. (Thomas Gounley)

Big-time Denver landlord RedPeak has bought another apartment complex, this one along the border with Glendale.

According to public records, the company paid $26.75 million last week for 180 Flats, the apartment complex at 818-848 S. Dexter St. in Denver.

The five-story apartment complex has 142 units, making the deal worth $188,340 a unit.

The property was sold by 180 Flatarel LLC — an entity affiliated with New York-based Arel Capital — which purchased the property in May 2017 for $22.3 million, according to records.

Earlier in February, RedPeak purchased a six-building portfolio spanning from West Washington Park to Cheesman Park for $39 million.

With the latest buy, RedPeak now owns 2,795 apartments in Denver.

Other significant multifamily sales in the Glendale area recently include AMLI Residential’s $108 million buy at the end of December, Laramar Group’s October purchase of three complexes for $56 million and Bridge Investment Group’s $93 million buy in late September.

redpeak hotel

The apartment complex at 818-848 S. Dexter St.…

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

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

For more informaiton, 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.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments