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Housing Authority Pays $1.85 Million For Normandy Apartments

DENVER-A 42-unit apartment building's location near a medical center prods housing authority into purchase. The deal equates to $44,048 per unit.

By John Rebchook | Updated on August 04, 2000

For The Englewood Housing Authority is paying $1.85 million for the 42-unit Normandy Apartments, two blocks from the Swedish Medical Center. Englewood is a suburban community about six miles southwest of Denver. The sales price amounts to $44,048 per unit and $70.85 per sf.

Grant Wimbush, the Grubb & Ellis Co. broker who handled the transaction, says the purchase is attractive to the housing authority because of the property’s proximity to the Swedish Medical Center. Resinoid Engineering Corp. is the seller.

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