Ballpark apartment complex sells for $103M a year after opening

12.4D Ballpark

The Canvas on Blake apartment complex at 2401 Blake St. (Thomas Gounley photo)

The developer of Ballpark’s Canvas on Blake apartment complex has sold it.

Lennar Multifamily Communities sold the complex at 2401 Blake St. last week for $103.3 million, according to public records.

The buyer was LW Canvas LLC, which lists an office address that corresponds to that of San Francisco-based real estate investment firm Cahill Equities. Company principal Pat Cahill signed loan paperwork associated with the purchase.

The complex has 240 units, making the deal worth $430,000 a unit.

Lennar purchased the 1.7-acre site in 2016 for $13.6 million. Prior to redevelopment, the property was home to River North Brewery, which now brews in Adams County and has taprooms there and at 3400 Blake St. in RiNo.

The first residents moved into Canvas in July 2019, according to a news release at the time.

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12.4D Ballpark

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