InterCapital Group And Pamera North America Acquire Multifamily Property In Denver For $95 Million
444 East 19th Avenue
$95,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 6, 2024
AI
The property involved in the transaction is a multifamily asset situated at 444 East 19th Avenue in Denver, CO. InterCapital Group and Pamera North America acquired this 302-unit community for a transaction amount of $95 million. The property, built in 2013, is LEED-certified and includes 10,000 square feet of retail space, along with 369 parking spaces and various amenities, boasting a 95% occupancy rate at the time of the sale.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $95,000,000
- Units: 302
- Price Per Unit: $314,570
- Buyer: InterCapital Group & Pamera North America
- Seller: RREEF Property Trust
- Brokers: Brad Schlafer, Christopher Hart, Shane Ozment & Terrance Hunt - CBRE
The transaction highlights the involvement of notable brokers from CBRE, specifically Brad Schlafer, Christopher Hart, Shane Ozment, and Terrance Hunt, who represented the respective parties in the deal.
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93