Denver real estate firm sells One City Block apartments for $99.5 million

One City Block, a 302-unit apartment complex built by Denver-based RedPeak Properties in 2012, at the beginning of what turned into a significant apartment boom in metro Denver, has been acquired by Deutsche Asset Management for $99.5 million, according to Denver County public record.

The complex, which encompasses four different buildings on one square block, as the name implies, was constructed around $65 million, according to news reports at the time.

Deutsche purchased the property for $320,470 per unit.

One City Block, located on 19th Avenue between Pennsylvania and Logan streets, attained LEED certification in 2014 following its completion in 2013.

RedPeak owns about 30 apartment complexes in metro Denver, including other high-profile properties in Denver such as 1600 Glenarm and the recently completed 7/S Denver Haus. It also has properties in Greenwood Village and Littleton.

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Posted in: Apartment Investing

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