Denver apartment investor lands 82-unit apartment community for $23.4 million

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Denver County

Property Location: 1515 Vrain St, Denver, “1515 Flats”

MPQ 1Q 2019 Banner 300 x 250

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

2018 4Q OPQ Banner Ad

Reception No.: 2018065837 or correction deed 2018068024

Closing Date: 6/13

Grantor: Vrain Street Investments LLC (Leon Cisneros & Courtney McRickard)

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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

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