96-UNIT MULTIFAMILY PROPERTY TRADES HANDS FOR $4 MILLION

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AURORA, COLO. — Delmwood LLC, a HUD program of Agin Properties and Investments, has acquired Elmwood and Del Mar Apartments, a 96-unit multifamily property located at 1334 Xanadu St. and 140 Del Mar Circle in Aurora. The property sold for $4 million or $41,667 per unit. The property features a one-bedroom unit and 95 two-bedroom units. Mike Easter and Josh Simon of CB Richard Ellis (CBRE) Capital Markets’ Denver office arranged acquisition financing at 83% loan-to-purchase price for the buyer. The $3.338 million loan was fixed at a 6.38% interest rate for a 7-year term. Craig Stack and Steve Rahe of CBRE brokered the sales. The seller was EDM Housing Associates Ltd.

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