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| Jacob Steele |
BOULDER, CO – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, announced the sale of Eastpointe Apartments, a
140-unit multifamily community in Boulder, Colo.
The $18 million sales price
equates to $128,571 per unit.
Built in 1974, the property is situated on seven acres at
1500-1590 Eisenhower Drive in
Boulder, Colo., across the street from the newly developed
Foothills Community Hospital and within proximity of other major area employers
such as the University of Colorado Research Park.
Jacob
Steele, associate vice president investments, and Nick Steele,
associate, both in Marcus & Millichap’s Denver office, represented the
buyer, Apartment Investment and Management Company (AIMCO).
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| Nick Steele |
“Eastpointe Apartments is a very well-situated asset in central Boulder
within walking distance of major Boulder employment centers,” says Jacob
Steele.
“The property represents a rare value-add opportunity in Boulder, one
of Colorado’s strongest rental markets.”
Eastpointe Apartments is a garden-style community with quiet,
well-groomed grounds, a pool, volleyball and tennis courts, a playground and
laundry facilities. The unit mix features one-, two- and three-bedroom
apartments with balconies and patios
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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