Greg Parker and Greg Price of Marcus & Millichap’s Denver office represented a private investor in the sale of its low-income senior apartment community in Lakewood, Colorado. Built in 1999 under the low-income housing tax credit program, the community has 58 units with a mix of studio, one- and two-bedroom units. It also offers assisted living and independent living options. Community amenities include housekeeping services, activities, a library, beauty salon and restaurant-style dining.
An undisclosed buyer acquired the property for $8.3 million, or $143,100 per unit. Phillip Gause of Marcus & Millichap Capital Corp. arranged acquisition financing for the buyer.
