Boulder, CO (February 10, 2016) – Unique Apartment Group (UAG) is proud to announce the disposition of Lofts on the Hill (LOTH), a mixed-use, retail and student housing property located at 1143 and 1155 13th Street situated on “The Hill” in Boulder, Colorado. Previously listed by two national brokerage firms, UAG successfully listed and sold the Property within a five month period. After receiving multiple offers, the Property sold for $11,325,000 on January 22, 2016.
- 2 buildings with 18,383 rentable square feet
- 13 residential units totaling 48 bedrooms (mix of three (3) and four (4) bedroom units)
- 2 retail units occupied by Span-ish Kitchen and Tots Restaurant
- Constructed in 2011 and in excellent condition
- Located in the heart of University Hill just blocks from University of Colorado at Boulder
The recent addition of two retail tenants and the increase in apartment rental rates were instrumental in attracting qualified investors to this excellent opportunity. The Property’s excellent condition, and close proximity to the University and its growing student population were additional features that attracted the Buyer; a current owner of multiple properties in the surrounding area. The acquisition of LOTH was additive to the Buyer’s long-term investment strategy of owning well-located, high-quality student housing.
“This sale represents the continuing demand for quality investment properties in the Boulder market,” stated Jason Koch, Vice President of Unique Apartment Group. ”LOTH has a predictable and stable cash flow, is always fully leased, and will continue to achieve premium rental rates,” he concluded.