Denver, CO (January 11, 2016) – Unique Apartment Group (UAG) is pleased to announce the sale of Dexter Place Apartments, located at 818-848 South Dexter Place in Denver, Colorado. This off market property traded hands on December 1, 2015 for $14,515,000. The Property consists of two (2) buildings with 103,520 rentable square feet.
Dexter Place Highlights:
- Twelve (12) – 1 Bedroom / 1 Bath (580 s.f. per unit)
- Seventy (70) – 1 Bedroom / 1 Bath (650 s.f. per unit)
- One (1) – 2 Bedroom / 1 Bath (820 s.f. per unit)
- Thirty-Nine (39) – 2 Bedroom / 1.5 Bath (840 s.f. per unit)
- Nineteen (19) – 2 Bedroom / 2 Bath (920 s.f. per unit)
- Fitness Center, Business Center, Outdoor Pool and Reserved Parking
The Seller had begun unit renovations, and invested a substantial amount in capital expenditures prior to the sale. The Buyer intends to capitalize on the previous owner’s efforts, continue property improvements and steadily increase gross revenue. The building’s location and long term prospects of the Glendale submarket with amenities such as Glendale 180 and Infinity Park were driving factors in the purchase. The new ownership intends on holding the property as a long term income-producing asset.
“The sale represents where Glendale as a submarket has come over the last 36 months. Once perceived as unattractive to Buyers and renters, is now quickly becoming one of the most highly sought after areas to be in. The submarket is now commanding high rents and offers many close amenities to tenants. Glendale is currently one of the hottest submarkets in town,“ stated Adam Riddle of UAG.