Infinity LoHi Sells For $111.75M
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The 273-unit Infinity LoHi apartment complex has sold to 2298 West 28th Avenue LLC for $111.75M.
Until this week, it was the highest per-unit price paid for an apartment building this year at $409,340. Now, the sale of the 302-unit Centric LoHi has topped that, selling for 302 units or nearly $433K/unit. IMP Centric LoHi LLC purchased the property from Nashville-based Southern Land Co.
Infinity LoHi, completed in 2018, is one of only two newly delivered multifamily properties with more than 200 units in the LoHi neighborhood, said Newmark Knight Frank Vice Chairman Terrance Hunt, who, with Shane Ozment, represented the seller, Greenwich, Connecticut-based The Richman Group.
Amenities at the complex include a fitness center, a 24-hour clubhouse and a resort-style swimming pool. The apartments are equipped with stainless steel appliances, washers and dryers, 9-foot ceilings and walk-in closets.
“The interest in this property validates that the Denver metro region continues to be an attractive place for investors supported by a growing economy and the national second-most educated workforce,” Metro Denver Economic Development Corp. CEO J.J. Ament said.
UPDATE, DEC. 20, 12:37 P.M. MT: Though the Infinity LoHi sale was the highest price per unit at the time it sold, it was surpassed by the sale of the Centric LoHi earlier this week. The story has been updated.