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A Denver community known as One City Block has been sold for $95 million to buyers InterCapital Group and Pamera North America. Commercial Edge reports that this 302-unit property was last purchased in 2017 by RREEF Property Trust for $99.5 million.
Located at 444 East 19th Ave., just east of downtown Denver, the North Capitol Hill property was at a high occupancy rate of 95 percent during the time of sale.
One City Block features ground-floor retail space totaling over 10,000 square feet and an underground parking structure with room for up to369 residential vehicles. The complex, which was completed in2013, consists of four four-story buildings and offers amenities such as a lap pool, private courtyard area,f itness center,y oga studio,f our rooftop decks,and resident lounge space.
The seller’s representation included Shane Ozment,T errance Hunt,C hris Hart,and Brad Schlafer from CBRE.
CBRE Research indicates that through the third quarter of this year,D enver’s occupancy rate remained strong at94 percent.
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