DENVER, CO –[August 19, 2020] – Blue West Capital has completed the sale of a multifamily portfolio located at 1570-1592 Meade Street in Denver, CO for $4,165,000. Tom Ethington, of Blue West Capital, represented the seller in the transaction, a Colorado-based multifamily investor looking to 1031 exchange for passive income.
The seven-building portfolio consists of 18 residential rental units and spans an entire city block from West Conejos Place to West 16th Avenue. The portfolio sits directly south of popular Sloan’s Lake Park and Zocalo Community Development’s proposed 16 story mixed-use development. This value-add centrally located opportunity is strategically placed near the Highlands neighborhood, the Decatur-Federal light rail station, Metropolitan State University, and University of Colorado Denver, the Pepsi Center, and Downtown Denver (172,000 jobs).
“The Seller had owned the seven-buildings for 25+ years and was very committed to the Sloan’s Lake neighborhood. As his investment plans evolved, it was time to exchange into a commercial real estate investment that was more passive, had less management and longer lease cycles.” said Tom Ethington, Managing Partner.