Boulder student apartment complex sells for $617,000 per unit

The Plaza on Broadway student housing complex sold recently for $24.05 million, or nearly $617,000 per apartment unit.

The Daily Camera reports that commercial real estate investment firm Marcus & Millichap brokered the deal for the 39-unit complex at 955 Broadway. A company official told the paper that a California company had purchased the complex.

The Denver Business Journal reported that the apartment complex itself “sits on a 60-year ground lease.” Boulder County property records show Colorado Acacia Fraternity House Corp. as owner of the land.