Pinnacle Announces Sale of 43 Unit Apartment Building in Lakewood
Josh Newell, Principal, Bart Thompson, Senior Advisor & Jesse Allen, Associate Advisor at Pinnacle Real Estate Advisors, LLC are pleased to announce the sale of Reed Park a 43-unit apartment community located at 1450 S Reed Park Street in Lakewood, Colorado. “This transaction proved to be one of the more complex deals our team has completed in the 15 years we have been in business. We had to navigate an agency loan assumption with a foreign Buyer during a global pandemic when our typical foreign facilitation vehicles, such as the US Embassy, were completely shut down. I am proud of the effort and skill of our Director of Team Operations, Lindsey Santaularia, displayed as she quarterbacked the logistics of getting this deal to the finish line,” commented Newell. The 43-unit apartment building was built in 1972 and sold on January 5th with a contract price of $8,400,000; $195,349 per unit and $247.37 per square foot. Josh Newell, Bart Thompson & Jesse Allen represented the Buyer.