Boulder firm sells apartment complexes for $61M
BOULDER and DENVER — Boulder firm Mountain View Capital has sold two Denver apartment complexes to Los-Angeles-based buyer Oak Coast Properties, Oak Coast announced last week in a news release.
The sale was for $61 million.
The complexes are the 194-unit Estrella at 7030 Pecos St. and the 235-unit Avalon at 645 Wolff St.
Oak Coast Properties is planning $3.2 million in renovations to the properties.
“Denver continues to draw new residents with its vast employment opportunities and attractive lifestyle,” Phil Nahas, managing partner of Oak Coast Properties, said in a prepared statement. “There is an ongoing housing shortage here however and enhancing existing rental stock like these two communities is one important solution to that.”
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Mountain View Capital was represented by Tom Wanberg and John Blackshire of Transwestern in the sale. Charles Halladay, Rick Salinas and Rob Bova of JLL Capital Markets helped Oak Coast Properties secure a $47 million loan to finance the sale.
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BOULDER and DENVER — Boulder firm Mountain View Capital has sold two Denver apartment complexes to Los-Angeles-based buyer Oak Coast Properties, Oak Coast announced last week in a news release.
The sale was for $61 million.
The complexes are the 194-unit Estrella at 7030 Pecos St. and the 235-unit Avalon at 645 Wolff St.
Oak Coast Properties is planning $3.2 million in renovations to the properties.
“Denver continues to draw new residents with its vast employment opportunities and attractive lifestyle,” Phil Nahas, managing partner of Oak Coast Properties, said in a prepared statement. “There is an ongoing housing shortage here however and enhancing existing…
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