180 Flats, 142 Unit Apartment Complex, Acquired; Greystone Unique Apartment Group Represents the Transaction

June 1, 2017

Denver, CO (June 1, 2017) – Greystone Unique Apartment Group is pleased to announce the sale of 180 Flats, an apartment complex located at 818 & 848 South Dexter Street in Denver, Colorado. The 142-unit complex sold for $22,300,000 or $157,042 per unit. 180 Flats consists of two (2) buildings with 104,955 rentable square feet and sold on May 24, 2017. Greystone Unique Apartment Group was the only broker involved in this transaction.

180 Flats Highlights:
• Thirteen (13) – 1 Bedroom/1 Bathroom (580 s.f. per unit)
• Sixty-Nine (69) – 1 Bedroom/1 Bathroom (630 s.f. per unit)
• One (1) – 2 Bedroom/1 Bathroom (700 s.f. per unit)
• Thirty-Nine (39) – 2 Bedroom/1 Bathroom (880 s.f. per unit)
• One (1) – 2 Bedroom/2 Bathroom (958 s.f. per unit)
• Nineteen (19) – 2 Bedroom/2 Bathroom (985 s.f. per unit)
• Fitness Center, Business Center, Outdoor Pool, Bike Storage Room, Outdoor Gas Grills & Gazebo, and Ample Parking

180 Flats had been extensively renovated prior to the sale, including upgrades to all common areas, exterior façade and landscaping, mechanical systems and approximately 70% of the units. The renovations include stainless steel appliances, designer tiles, contemporary paint, wood plank style flooring, and private balconies or patios. Wheelhouse Construction completed the renovations and Wheelhouse Management operated the property secured premium rental rates for renovated units.

Ideally located within the booming Cherry Creek submarket, investors were attracted to 180 Flats’ location and excellent renovations. New ownership plans on holding for future cash flow and appreciation.

For more information, please contact:
Scott Shwayder (303)321-5888 | www.greystoneuag.com

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