Josh Satin & Damian Langere's Gelt Venture Partners Acquires Allure Apartments For $68.25M
1300 South Willow Street
$68,250,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 13, 2024
AI
The Allure Apartments in Denver, Colorado, were acquired by Gelt Venture Partners, LLC (GVP) for $68.25 million. The property, strategically expanding GVP's portfolio, is located at 1300 South Willow Street in the Denver market. The sale was facilitated by broker Jordan Robbins of JLL.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $68,250,000
- Buyer: Josh Satin & Damian Langere - Gelt Venture Partners, LLC
- Seller: Chris Payne - Sares Regis Group
- Broker: Jordan Robbins - JLL
- Address: 1300 South Willow Street
- Market: Denver, CO
Josh Satin and Damian Langere of Gelt Venture Partners, LLC partnered to acquire the Allure Apartments. On the selling side, Chris Payne represented the Sares Regis Group. This transaction marks a notable expansion of GVP's real estate holdings in the Denver area, aligning with their investment strategy in the multifamily sector.
Players
Denver MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93