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Inland Sells Central Denver Portfolio For $21.85M

The Inland Real Estate Group of Cos. sold its 54-unit Central Denver portfolio.

The Inland Real Estate Group of Cos. has sold a 64-unit multifamily portfolio in Denver to Washington-based the Abulhosn Family LLC in a deal valued at $21.85M.

The Central Denver portfolio consists of two properties: Emerson Lofts and Ascent Uptown.

At 777 Emerson St., Emerson Lofts has one-, two- and three-bedroom units with floor-to-ceiling windows, granite countertops, dishwashers, microwaves and washers and dryers. Amenities include a community garden, a heated garage, bike racks and covered parking.

Ascent Uptown, at 1691 Franklin St., has studio and one-bedroom units with wood floors, washers and dryers, stainless steel appliances and granite countertops. The building also has restaurants Patxi’s Pizza and Olive & Finch, secured building access and reserved parking.

Berkadia Senior Directors John Laratta and Nick Steele and Associate Director Tyler King of the Denver office, along with Senior Managing Director Kenny Dudunakis and Senior Directors Ben Johnson and David Sorensen of the Seattle office, handled the sale on behalf of Inland.

“There was a tremendous amount of interest in the properties,” Laratta said. “We continue to see strong demand for well-located multifamily assets in the Denver market due to the solid local economy and continued sound market fundamentals.”

CORRECTION, APRIL 12, 10:10 A.M. MT: A previous version of this story had the  wrong number of units in the 64-unit portfolio. The story has been updated.