Michelson Organization Acquires 266-Unit Peakline At Copperleaf From 29th Street Capital For $72.5M

The property asset involved in this transaction is a 266-unit multifamily complex located at 4343 South Picadilly Street, Aurora, CO. The sold asset spans 12 acres and was acquired for a total sale price of $72,500,000. The per unit price (PPU) for this transaction stands at $272,556. The community, known as Peakline at Copperleaf, was completed in 2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $72,500,000
• Buyer: Michelson Organization
• Seller: 29th Street Capital
• Broker: Walker & Dunlop
• Units: 266
• Acres: 12
• Loan Amount: $30.6 million
• Loan Type: Five-year Fannie Mae loan

These transaction details highlight the key participants, with Walker & Dunlop facilitating the financing for Michelson Organization in the deal with 29th Street Capital. The property had a previous sale in 2022 for $104 million, indicating the dynamic nature of the multifamily market in Aurora.