A City Park West apartment complex has sold for $9.4 million.
Called The Lafayette Apartments, the 41-unit Victorian buildings were sold to a Chicago-based real estate investment trust, Highlands REIT Inc.
The apartments are located at 1575 Lafayette St.
“The seller refurbished the property in such a manner that preserved its classical feel, all the while offering tenants modern appliances and ample amenities,” said Erik Toll, a Pinnacle Real Estate Advisors broker who represented both the buyer and seller on the transaction.
The seller was Heartwood Capital, a locally based property manager.
Another broker on the transaction, JB Hochman, said that the property has a central location and "desirable unit mix."
“It is a unique opportunity and we expect them to excel here,” Hochman said.
Pinnacle Real Estate Advisors is a full-service commercial real estate brokerage firm servicing clients globally who own commercial properties in the metro Denver area and throughout Colorado.