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Marcus & Millichap Arranges The Sale Of A 40-Unit Apartment Building

October 08, 2021

DENVER, October 8, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Julian Square, a 40-unit apartment property located in Denver, Colo., according to Adam A. Lewis, regional manager of the firm’s Denver office. The asset sold for $7,700,000.

Greg Parker and Greg Price, investment specialists in Marcus & Millichap’s Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.

Julian Square is located at 3800 S Julian St in Denver, Colo, just 21 minutes southwest of downtown Denver. The multifamily portfolio consists of six one-bedroom, 30 two-bedroom, two two-bedroom, two four-bedroom, one five-bedroom, and one six-bedroom apartments.

“The Seller completed an extensive interior renovation program in recent years, which provided the buyer with a clean slate to reposition the property through exterior and amenity package upgrades, while also offering stable returns from day one. Julian Square is comprised of a unique mix of large floorplans, providing the buyer with an attractive basis compared to neighboring properties, which consist primarily of one-bedroom floorplans,” commented Parker.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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