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Apartment Complex Sells for $26 Mil

DENVER-Silcliff LLLP pays $85,256 per unit for the 312-unit Silver Cliff Apartment complex in suburban Denver. The sale by Ameriton Properties of Irvine, CA is part of a 1031 exchange.

By John Rebchook | Updated on June 04, 2001

DENVER-Silcliff LLLP paid $26 million for the 312-unit Silver Cliff Apartment complex at 5109 S. Delaware St. in suburban Denver. The seller, Ameriton Properties of Irvine, CA, received $85,256 per unit.

”It’s a pretty big price,” David Potarf, tells GlobeSt.com. Potarf handled the sale with fellow Marcus & Millichap broker Dan Woodward.

”It was built in 1990, but it has many ’80s construction features, so it’s not getting the price per unit that you would for a ’90s,” deal,” Potarf says. ”But it’s a pretty good price for its age and location.”

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