Pinnacle Announces Sale of 57 Unit Apartment Property in Littleton
Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Lynnewood, a 57-unit multifamily asset for $10,300,000 located at 5579 S Windermere Street in Littleton, Colorado. Andrew Monette, Senior Advisor, and Jeff Johnson, Co-Founder / Principal, represented the seller. Josh Newell, Principal, represented the Buyer and commented that “this Buyer would not have been interested in Lynnewood by itself due to its size. Thankfully I was able to negotiate a deal with the adjacent neighbor to the south, which brought enough scale to the table for the Buyer to pursue both assets. The Buyer and I ran the two transactions with identical timelines and we were able to obtain one agency loan for both properties.”
“Due to the strong performance in the Littleton submarket, our clients took advantage of great market appreciation and were able to sell Lynnewood Apartments at an incredible point in the market. The continued rent growth and desirability lays ideal groundwork for the new buyer to have great success,” stated Monette.