Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Aspire Lakewood Apartments, a 96-unit multifamily asset built in 1969 in Lakewood, Colorado. The property traded for $27 million, or $281,250 per unit.
“We displayed our national reach by procuring a new-to-the-market investment group during the final stages of the marketing process,” said Kent Guerin, vice president investments in Marcus & Millichap’s Denver office. “We worked with the buyer for a year to find the right property to expand their portfolio into Colorado. Aspire presented a great opportunity to acquire a value-add asset that provides future operating efficiencies as the buyer looks to build a portfolio around this acquisition.” Guerin and Marcus & Millichap’s Jason Hornik and Greg Parker represented the buyer.
Accessible from U.S. Route 6, Interstate 70, and State Highway 391, the property is near the University of Colorado and employers such as the Denver Federal Center, Centura St. Anthony Hospital, and the Jefferson County School District. Shopping is nearby at the Alameda Square Shopping Center and recreation is within proximity at William F. Hayden Green Mountain Park and Bear Creek Lake Park.
Community amenities at Aspire Lakewood Apartments include a fitness center, clubhouse, and swimming pool. The property’s one-, two-, three- or four-bedroom units include a private patio or balcony.
