RedPeak has acquired two Denver apartment buildings within a two-week time frame, bringing the company’s portfolio of multifamily properties to 29.
The company paid $11.5 million for the 69-unit property and adjacent parking lot at 960 Grant St. in Capitol Hill. The building was built in 1937 and consists of studios and one-bedroom units.
It paid Coughlin & Co. $14.75 million for 54 one- and two-bedroom apartments at 1375 High St. in Cheesman Park. The property was built in 1963 and renovated in 2008.
“With these two recent purchases, our current portfolio stands at 29, and we’re excited to be able to provide Denver’s growing population with quality residences in great urban locations,” says Bobby Hutchinson, RedPeak’s chief investment officer. “These are two of Denver’s finest apartment buildings, with classic brick facades and provide us with the opportunity to make renovations where needed and upgrade them even more with the RedPeak brand.”
RedPeak, which is actively pursuing acquisitions throughout Denver, is a full-service apartment owner, operator and developer with a portfolio of more than 2,300 units.