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1300 South Willow Street

Josh Satin & Damian Langere's Gelt Venture Partners Acquires Allure Apartments For $68.25M
SOLDMultiFamily

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

Jordan Robbins

JLL

Broker

$239.6M

vol

3 deals

Broker

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