Thursday, January 15, 2015

Marcus & Millichap Represents Purchaser of 140-Unit Central Boulder, CO Apartment Community


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).

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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