2/15/2008

Summit Management expands Denver holdings with $30M acquisition

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The Estates at Mira Vista

Fort Wayne, Ind.-based Delaware Investment Advisors has sold The Estates at Mira Vista in Denver, Colo., for $30.15 million to Akron, Ohio-based Summit Management Services, Inc.

Art Wadlund and Chuck Sweeney of Hendricks & Partners brokered the deal on behalf of Delaware Investment.

Built in 2004, the 240-unit apartment complex is located at 1000 East Alameda Ave. Comprised of eight, three-story buildings on 10 acres, it features a mix of one, two and three-bedroom apartments across more than 242,000 square feet.

Wadlund recently brokered the $35 million sale of The Estate at Crossroads in Duluth, Ga., and the $15.9 million sale of the Metro Village Apartments in Phoenix, Ariz.

Address: 1000 East Alameda Ave., Denver, Colo.

Size: 240 units/242,650 square feet

Built: 2004

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Filed Under: Multi-Family

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