Price: $3,975,000
Units: 40
Address: 3201 RIVERSIDE DRIVE
City: IDAHO SPRINGS
State: CO
ZIP: 80452
PINNACLE ANNOUNCES SALE OF 3201 RIVERSIDE DRIVE, IDAHO SPRINGS CO
Denver, CO – August 1st, 2016 – Pinnacle Real Estate Advisors, LLC, is pleased to announce the sale of 3201 Riverside Drive in Idaho Springs, Colorado. The multifamily property sold on July 26th for $3,975,000; $112.17 per square foot and $99,375 per unit. Jim Knowlton, Senior Advisor at Pinnacle Real Estate Advisors, represented the seller and Kevin Calame and Matt Lewallen, Senior Advisors at Pinnacle Real Estate Advisors, represented the buyers.
“The buyer sold a property in Boulder, with a low cap rate, and traded into a much larger property with higher returns,” stated Kevin Calame.
“This was the downleg in a 1031 exchange for the Seller. He was able to streamline his portfolio by moving out of Idaho Springs and buying a larger property in Denver with a higher return,” said Knowlton.
For more information, please contact Kevin Calame or Jim Knowlton.
Pinnacle Real Estate Advisors
Pinnacle Real Estate Advisors is a full-service commercial real estate brokerage firm servicing clients globally who own commercial properties in the metro Denver area and throughout Colorado. Our expertise encompasses all commercial real estate property types. We have experienced advisors specializing in apartment building sales and acquisition; retail property sales, leasing and acquisition; office property sales, leasing, tenant representation, and acquisition; and industrial property sales, leasing and acquisition. The Pinnacle Experience™ is a unique approach that is focused on each client’s needs, delivering superior real estate guidance, proven market perspective and unmatched results. Pinnacle Real Estate Advisors combines market expertise with a Full Spectrum Marketing™ campaign that delivers innovative real estate solutions that are client-centric and relationship focused. In 2015, Pinnacle Real Estate Advisors closed 356 transactions for a total of $508 million. To view a current list of our buildings for sale in Denver, visit:www.pinnaclerea.com/featured-listings.###
| Price: | $3,975,000 |
| Address: | 3201 Riverside Drive |
| City: | Idaho Springs |
| State: | CO |
| Zip Code: | 80452 |