DENVER – April 19, 2022 – Berkadia today announced the $30 million sale of MOTO Apartments, a 64-unit mixed use, mid-rise property in Denver, Colorado. Senior Directors Nick Steele and John Laratta, Director Tyler King and Associate Director Nate Moyer of Berkadia Denver completed the sale on behalf of the California-based seller. The buyer was California-based Ideal Capital Group, and the deal closed on April 6.
“The seller, recognizing a great opportunity to reposition his holdings, was able to take advantage of red-hot investment sales market,” said King. “The buyer is thrilled to enter Denver with a prime core asset and an opportunity to add value. This was a true win-win for everyone.”
Located at 820 Sherman St., MOTO Apartments features one-bedroom floor plans with in-unit washers and dryers, walk-in closets, dishwashers and hardwood floors. Community amenities include a roof terrace, a courtyard, a picnic area and a swimming pool. Located in Central Denver, residents are afforded convenient access to the Denver Art Museum, the Denver Zoo, Cheesman Park, the Denver Botanic Gardens and much more.
62-Unit Apartment Property in Denver Sells for $30Mln | CRE Direct
The Pipeline: Commercial real estate deals for 4.22.22 | BusinessDen
Local Investment Group Buys Denver Apartment Complex | The Business Journal