LoHi apartment sales top $400,000 per unit
Buyers have put a bow on a pair of apartment properties in the Lower Highland neighborhood.
The properties, Infinity LoHi and Centric LoHi, located in the coveted LoHi neighborhood of Denver, recently sold in separate transactions at prices topping $400,000 per unit.
An undisclosed institutional adviser paid $111.75 million, or $409,340 per unit, for Infinity LoHi, a 273-unit community at 2298 W. 28th Ave.
GID paid a reported $130.75 million, or $419,702 per unit, which excludes the 9,300 square feet of ground-level restaurant space, for Centric LoHi, a 302-unit community at 2525 18th St.
The price per unit at Centric LoHi eclipsed the mark just set by the Infinity LoHi sale for the highest per-unit-price paid in metro Denver in 2018 for a market-rate community.
Southern Land Co. sold Centric LoHi, its first project in the Denver market. It was represented in the sale by Dan Woodward, David Potarft and Matthew Barnett of CBRE Capital Markets, Multifamily Properties.
Infinity LoHi was sold by The Richman Group. Newmark Knight Frank Multifamily’s Terrance Hunt and Shane Ozment represented the seller.
Read more about the transactions in the upcoming January 16 issue of the Colorado Real Estate Journal.