RedPeak purchases apartment building for $11 million

DENVER — RedPeak real estate firm has purchased a new property, the second this month.

The company spent $11.25 million to purchase the 10-story apartment building at 960 Grant St., BusinessDen reports.

The 34,000-square-foot building was built in 1937 and has 69 studio and one-bedroom apartments. The deal included an adjacent parking lot.

The building, which has been branded Colburn Apartments, is 95 percent leased.

RedPeak now has more than 2,200 units across 26 properties in and around Denver. Earlier this month it purchased a 54-unit building on High St. for $14.75 million.