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Courtesy of ARA, A Newmark Company
ReyLenn Properties sold Solana 3100 Pearl apartment complex in Boulder for $136M, with Rockwood Capital, a New York-based real estate investment firm, acquiring the 319-unit property.
At $426,332/unit, that's the highest per-unit price ever paid for a conventional apartment property in Boulder, reports the Denver Business Journal. It's the second-highest in the state, behind 1000 Speer by Windsor, formerly The Joule, which traded earlier this year for $535,714/unit.
California-based ReyLenn Properties developed Solana 3100 Pearl in 2014, and has three other projects underway in Colorado, including a 352-unit apartment property in Arvada. ARA, A Newmark Company, repped ReyLenn in the deal. Solana 3100 Pearl is 94% leased. [DBJ]
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