Atlanta investor closes $101 million apartment deal in northeast Denver

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Denver County

Address: 4699 N. Kittredge St., Denver, “Lakecrest @ Gateway Park Apts.”

Improvements: 440-unit apartment, 426,510 sf, YOC 2001

Land Size: 15.22 acres

Density: 28.91 units per acre

Date of Recording: 11/21

Reception No.: 2017152985

Price: $101M, or $229,545 per door, or $218.49 psf

Grantor: Kittredge Street Apartments LLC c/o The Bascom Group LLC, Jerome A. Fink, managing partner

Grantee: Kittredge CO Partners LLC c/o Cortland Properties, Michael E. Altman, VP, 404-965-3988, 3424 Peachtree Road, Suite 300, Atlanta, GA 30326

Financing: $78.595M payable to Walker Dunlap LLC, due 12-1-2027

Comments: The models floor plans range from 689 to 901 sf for the one- bedrooms, 920 to 1,118 sf for the two-bedroom units and 1,314 sf for the three-bedroom units.

Comp of the Day is provided by John V. Winslow, president of Winslow Property Consultants. Winslow has more than 40 years’ experience in commercial real estate. He can be reached at 720-612-7878 or Colprop2012@gmail.com.

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