Bascom Northwest Ventures Buys 260-Unit Apartment Complex in Denver for $90.5M
DENVER — Bascom Northwest Ventures has acquired 1000 South Broadway Apartments, a multifamily property located at 1000 South Broadway in Denver. An undisclosed seller sold the asset for $90.5 million, or $348,076 per unit.
Built in 2015, 1000 South Broadway Apartments features 260 Class A units. Avenue 5 Residential will manage the property.
Terry Daly of Cushman & Wakefield arranged a $54.5 million loan with Wells Fargo Bank for the buyer. The property was also purchased with proceeds derived from the sale of a 15-year investment in an urban infill property in Bellevue, Wash.