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9/05/17
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Jeff Sanders, a Boulder-based investor with Mountain View Capital LLC, acquired two Denver-area multifamily properties with a combined 429 units in deals totaling $30.9 mil ($72k/unit).
One of the properties, Coronado Crossing, was constructed in 1970 and consists of 193 units. Located at 7030 N. Pecos St, the community is less than 15 minutes from downtown Denver. It sold for $13.4 mil.
The other property, Valley Park Village Apartments, was completed in 1962 and purchased for $17.5 mil. The 236-unit community, located at 645 Wolff St, and consists of 14 buildings on 16.22 acres.
Transwestern’s Tom Wanberg and John Blackshire represented the undisclosed seller in the dispositions. With these two acquisitions, the new owner now has six properties in the Denver area.
“These properties presented a compelling opportunity to realize substantial upside by upgrading the units and common areas,” said Blackshire. “Both properties are situated in improving areas that will receive significant activity once the renovations are complete.”
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