Denver, CO (July 18, 2017) — Greystone Unique Apartment Group, multifamily division of Unique Properties, Inc., Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm, recently brokered the sale of a 27-unit multifamily asset located at 253-263 North Grant Street in Denver, Colorado. The Property sold for $5,200,000 or $192,593 per unit and closed on July 18, 2017.
The Grant Apartments consists of two buildings with 15,776 rentable square feet. Constructed in 1968, the Property has a unit mix of twenty-four one-bedroom units and three two-bedroom units. Prior to the sale, there were numerous property improvements including new roofs, windows, boilers and walk-up renovations. The Grant Apartments are in Central Denver, blocks from a multitude of restaurants, entertainment, shopping and other amenities. The buyer intends to capitalize on the prime location by renovating the units with high end finishes and raising rents to market rates. Greystone provided the buyer with a loan from Freddie Mac’s small balance loan program resulting in a 3.97% interest rate. The property was 95% occupied at the time of sale.
To schedule an interview with an advisor regarding this transaction or for more information about Greystone Unique Apartment Group, please contact: Brandon Kaufman at firstname.lastname@example.org or 720.638.5527