Property Location: 1515 Vrain St, Denver, “1515 Flats”
Property Description: 82-unit, five-story apartment, 65,090 sf (including 5,995-sf retail space on first floor, YOC 2017
Land Size: 19,315 sf
Sales Price: $23.4M, or $359.50 psf, or $285,366 per unit
Reception No.: 2018065837 or correction deed 2018068024
Closing Date: 6/13
Grantor: Vrain Street Investments LLC (Leon Cisneros & Courtney McRickard)
Grantee: JIMS Colony Vrain Owner LLC, c/o Cardinal Group investments, 4100 E. Mississippi Ave., 15thfloor, Denver 80246, attn: Eric Frank, mgr., 303-407-4500
Financing: $14.58M payable to PFP Holding Co., c/o Prime Finance Partners Inc., Chicago, IL
Comments: The sale was handled by CBRE Inc., Matt Barnett. Jason Kosena is VP of acquisitions. There are 33 standard parking spaces and 4 accessible spaces plus 4 compact spaces.
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.