Carmel Picks Up Second Denver Rental Asset This Month
Carmel Partners purchased Edison at RiNo, a 277-unit luxury apartment building at 3063 Brighton Blvd. in Denver. The company paid $76.6 million for the apartment complex.
Clarion was the previous owner. JLL secured Clarion a $60.3 million as part of a refinancing for Edison.
Edison is a nine-story building with ground-floor townhome-style units and high-level amenities including multiple resident lounges, ski and bike storage, a pet wash station, fitness classes and an on-demand chore service option integrated into the property. The property sits on a 1.8-acre parcel. Greystar manages the property.
Just last month, Carmel bought The Fitzgerald at 1840 Market St. for $110 million.
Other News
Plans Filed for 155-Unit Office-to-Apartment Conversion in Boston
Boston continues to be a hub for office conversion enthusiasts, with Kendall Capital planning to convert a landmark office building in Boston’s Financial District into a 155-unit residential property. The 155,000-square-foot project would be financed through historic tax credits, according to a report by Banker & Tradesman. Kendall Capital manager Mai Luo acquired the property...
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Long Island City Commercial Building Changes Hands for $6M
A local developer has purchased a commercial unit in Long Island City for $6.1 million, or approximately $407 per buildable square foot, with plans to redevelop the building into high-end condos. Marcus & Millichap negotiated the sale of the now-vacant property at 49-03 Fifth St., which was formerly home to an auto repair shop. The...
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Marcus & Millichap Arranges Sale of 206-Unit Indiana MF Property
Marcus & Millichap announced the sale of Shoaff Park Villas, a 206-unit multifamily property in Fort Wayne, Indiana. “Shoaff Park Villas presented a rare opportunity as it was the first time the property had been offered for sale since 1976 after being owned by the same family for 50 years,” said Jack Friskney, director of...
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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