Chad McWhinney Acquires 60-Unit Townhome Community In Castle Rock For $24.7 Million

The asset involved in this transaction is a multi-family property located at 1457 Red Hawk Drive in Castle Rock, Colorado. The build-to-rent townhome community consists of 60 units, which were constructed in 2015. The property has a sale price of $24.7 million, resulting in a price per unit of $411,667.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $24,700,000
• Units: 60
• Price Per Unit: $411,667
• Buyer: Chad McWhinney - McWhinney
• Seller: Red Hawk Crossing
• Market: Castle Rock, CO

The acquisition will see McWhinney strategically expanding its build-to-rent portfolio in the Denver metropolitan area, with the management of the property being handled by Asset Living. Renovations are planned to enhance the property further.