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Cadence Capital Acquires Multifamily Portfolio In Lakewood, Colorado For $17.65M With Buyer's Rep Darrin Mainstain & Alex Mirman

Property Image
SOLD
$17,650,000
Greg Price
Greg Parker
Spencer Shaffer

Colorado

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MultiFamily59,157 SF
Sold 01/26/2023
the dealplayerscompscontact
Property Image
SOLD

Cadence Capital Acquires Multifamily Portfolio In Lakewood, Colorado For $17.65M With Buyer's Rep Darrin Mainstain & Alex Mirman

1210 Pierce Street

See Similar Deals
MultiFamily59,157 SF
Sold 01/26/2023
Greg Price
Greg Parker
Spencer Shaffer
the dealplayerscompscontact
Contact now

Summary

COLORADO
Asset Type:MultiFamily
Price Per Square Foot:$298
Total Square Footage:59,157 SF
Transaction Type:Sale

A multifamily property located at 1210 Pierce St., 1230 Pierce St., 1150 S. Allison St., and 200 S. Ammons St. in Lakewood, Colorado has been sold. The property consists of 92 units with a total square footage of 69,409. The sale price for this transaction was $17,650,000, which translates to a price per unit of $191,848 and a price per square foot of $254.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,650,000
  • Market: Lakewood, Colorado
  • Buyer: Cadence Capital (www.cadence-capital.com) - Darrin Mainstain & Alex Mirman
  • Seller: Karen Caldwell
  • Brokers: Greg Price, Greg Parker & Spencer Shaffer - Marcus & Millichap
  • Units: 92
  • Price per Unit: $191,848
  • Total Square Footage: 69,409
  • Price per Square Foot: $254

The buyer, Cadence Capital represented by Darrin Mainstain and Alex Mirman, acquired the property from the seller, Karen Caldwell. The sale was facilitated by brokers Greg Price, Greg Parker, and Spencer Shaffer from Marcus & Millichap.

Players

Greg Parker
Marcus & Millichap
Greg Parker
3 deals$72.2M volume
BROKER
Greg Price
Marcus & Millichap
Greg Price
3 deals$86.5M volume
BROKER
Spencer Shaffer
Marcus & Millichap
Spencer Shaffer
1 deal$17.7M volume(303) 328-2032
BROKER
CC
Cadence Capital
BUYER
CC
Cadence Capital
BUYER

Details

SOLD
IMAGE: Darrin Mainstain & Alex Mirman DATE: 01/26/2023 ADDRESS: 1210 Pierce St., 1230 Pierce St., 1150 S. Allison St. & 200 S. Ammons St MARKET: Lakewood, Colorado ASSET TYPE: Multifamily BUYER: Cadence Capital (www.cadence-capital.com) - Darrin Mainstain & Alex Mirman SELLER: Karen Caldwell BROKERS: Greg Price, Greg Parker & Spencer Shaffer - Marcus & Millichap SALE PRICE: $17,650,000 UNITS: 92 ~ PPU: $191,848 SF: 69,409 ~ PPSF: $254

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$941,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$62,706.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$83,670.00
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