29th Street Trades Aurora Apartment Community for $72.5M
29th Street Capital sold the Peakline at Copperleaf apartments for $72.5 million, a significant dip from the price the company paid for the property four years ago. The company paid $104 million from the development iin 2022.
Multifamily News reports that the Michelson Organization acquired the property with the help of a $30.6 million five-year Fannie Mae loan.
Located at 4343 S. Picadilly St., it sits just off Picadilly Street and East Quincy Avenue.
Peakline at Copperleaf comprises one-, two- and three-bedroom units, with floorplans ranging from 732 to 1,232 square feet. All units feature private balconies or patios, with direct access garages available in select units.
Common-area amenities at the pet-friendly community include a fitness center, bocce ball court, clubhouse, outdoor kitchen with grilling stations, swimming pool, spa, pet wash and dog park. The property also has some 550 parking spaces at ground level.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout