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118 Unit Apartment Portfolio Neighboring Fitzsimons-Anschutz Medical Campus Acquired; Greystone Unique Apartment Group Represents the Seller and Buyer of Five Adjacent Buildings

Posted by Unique News Team on March 2, 2017
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Aurora, CO (March 2, 2017) – Greystone Unique Apartment Group is pleased to announce the sale of Gardens on Paris, an apartment portfolio sale located at 1612 Paris Street, 1650 Paris Street, 1678 Paris Street, 1686 Paris Street and 1645 Peoria Street. The 118-unit portfolio sold at $11,200,000 or $94,915 per unit. The 109,126-square foot portfolio sold on February 27, 2017 at a 7.15% cap rate.

Property Highlights:
• Fourteen (14) – Studios (634 s.f.. per unit)
• Fifty-Four (54) – 1 Bed/1 Bath (700 s.f. per unit)
• Thirty-Five (35) – 2 Bed/1 Bath (900 s.f. per unit)
• Twelve (12) – 2 Bed/1.5 Bath (900 s.f. per unit)
• Three (3) – 3 Bed/2 Bath (1,200 s.f. per unit)
• Fitness Center, Recreation Room, Reserved Parking, & On-Site Leasing Office

Gardens on Paris was built in the early 1960’s and consists of five adjacent buildings. The seller had invested a significant amount of money on capital expenditure items including new boiler installations, roof replacements, exterior repairs and more. The investors were attracted to the portfolio’s location and long term prospects of the 578-acre medical campus, the largest medical related development in the United States.

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