1/17/2008

JV acquires Denver high-rise

by

Mezzo Apartment Homes

A joint venture between RREEF and San Diego, Calif.-based Redhill Realty Investors has acquired the Mezzo Apartment Homes in Denver, Colo., from Fairfield Residential.

According to The Denver Post, the property sold for $33.5 million. Fairfield purchased the property in July 2005 for $23 million, according to Denver County assessment records.

Jeff Hawks and Doug Andrews of Apartment Realty Advisors represented Fairfield in the transaction.

The 14-story high-rise is located at 901 Sherman St., one mile south of Denver's Central Business District. It contains 315 units, spans 280,000 square feet and was built in 1953. The building also includes 14,000 square feet of retail space on the ground level and 246,989 net leasable square feet.

Address: 901 Sherman St., Denver, Colo.

Size: 315 units/280,000 square feet

Built: 1953

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Filed Under: Multi-Family

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