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Griffis Residential Acquires Multifamily Property In Denver For $125.5M

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SOLD
$125,500,000
Justin Hunt
Brad Schlafer
+ 5

Colorado

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MultiFamily
Sold 01/04/2024
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Property Image
SOLD

Griffis Residential Acquires Multifamily Property In Denver For $125.5M

1650 Wewatta Street

See Similar Deals
MultiFamily
Sold 01/04/2024
Justin Hunt
Brad Schlafer
+ 5
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Summary

COLORADO
Asset Type:MultiFamily
Transaction Type:Sale

Griffis Residential has acquired the 287-unit luxury community located at 1650 Wewatta Street in Denver, Colorado known as Platform at Union Station. The property was purchased for $125.5 million and has been renamed Griffis Platform Union Station. This multifamily asset offers a variety of amenities and is situated in a prime location in the Denver market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $125,500,000
  • Address: 1650 Wewatta Street
  • Market: Denver, CO
  • Units: 287
  • Price per Unit: $437,282

In this acquisition, Ian Griffis, representing Griffis Residential, acted as the buyer. The brokerage team from CBRE, including Andy Hellman, Brad Schlafer, Chris Cowan, Christopher Hart, Justin Hunt, Terrance Hunt, and Shane Ozment, facilitated the transaction. Their expertise and guidance contributed to the successful closing of this deal.

Players

Andy Hellman
4 deals$167.3M volume
BROKER

Justin Hunt
CBRE
5 deals$198.3M volume
BROKER

Brad Schlafer
CBRE
7 deals$534.9M volume
BROKER

Christopher (Chris) Hart
CBRE
5 deals$501.5M volume
BROKER

Terrance Hunt
CBRE
6 deals$612.5M volume(303) 538-2010
BROKER

Shane Ozment
CBRE
6 deals$539.8M volume(303) 583-2005
BROKER

Chris Cowan
CBRE
1 deal$125.5M volume(303) 913-0755
BROKER

Details

SOLD
IMAGE: Ian Griffis, Andy Hellman, Brad Schlafer, Chris Cowan, Christopher Hart, Justin Hunt, Terrance Hunt & Shane Ozment DATE: 01/04/2024 ADDRESS: 1650 Wewatta Street MARKET: Denver, CO ASSET TYPE: Multifamily BUYER: Ian Griffis - Griffis Residential BROKERS: Andy Hellman, Brad Schlafer, Chris Cowan, Christopher Hart, Justin Hunt, Terrance Hunt & Shane Ozment - CBRE SALE PRICE: $125,500,000 UNITS: 287 ~ PPU: $437,282 NOTE: Griffis Residential has acquired the 287-unit luxury community in Denver known as Platform at Union Station for $125.5 million, renaming it Griffis Platform Union Station.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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Cap Rate

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Cash Flow (Annual)-$445,875.00
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