Apartment complex partially leased to Sonder near DU sells for $90M

The Atelier at University Park apartment complex at 2450 S. University Blvd. sold for $90 million. (Thomas Gounley photo)

An apartment complex by the University of Denver that is partially leased to hotel operator Sonder has changed hands.

DWF VI Atelier LLC purchased the Atelier at University Park complex at 2450 S. University Blvd. last week for $90 million, according to public records.

The purchasing entity lists an office address that corresponds to the San Francisco headquarters of DivcoWest. The company does not list any Colorado properties among its online portfolio.

The six-story complex has 252 units, according to its original development plans. That makes the deal worth $357,000 a unit, not factoring in the building’s retail space.

A local Sonder executive told BusinessDen in 2019 that the company leased half a floor within the complex.

The sale means that all four of Sonder’s local properties have sold since the company began operating them. An Uptown property sold in December 2019 and two in Lohi sold in February 2020 and last month, respectively.

Atelier at University Park was developed by New York-based Tessler Developments, led by Yitzchak Tessler. Reached by phone Friday, he said he didn’t have time to comment.

In June, Tessler sold a full city block in Jefferson Park for $32 million.

The Atelier at University Park apartment complex at 2450 S. University…

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