9/28/2007

Joint venture pays $24.4 million for Denver apartments

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A joint venture between Pacific Coast Capital and the Griffis Value Added Fund has purchased Highland on Cherry Creek, a 216-unit apartment complex in Denver for $24.4 million.

Englewood, Colo.-based Loup Development was the seller and was represented by Hendricks & Partners.

Built in 2004 on 11 acres, the property contains nine buildings located at 8252 E. Harvard Ave. It was 95 percent leased at the time of sale.

Loup Development is a property management, construction and development company. Hendricks & Partners is a commercial real estate brokerage firm specializing in multi-family properties.

Address: 8252 E. Harvard Ave., Denver, Colo.

Size: 216 units

Built: 2004

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Filed Under: Multi-Family

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