REBusinessOnline

Bascom Northwest Ventures Buys 260-Unit Apartment Complex in Denver for $90.5M

1000-South-Broadway-Denver-CO

Located in Denver, 1000 South Broadway Apartments features 260 for-rent residential units.

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.

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