MEPT Bags The Metro Apartments for $91M
DENVER-Multi-Employer Property Trust (MEPT) has paid 90.75 million for a 415-unit apartment complex in Denver. The Washington, DC-based company purchased the multifamily property, The Metro, from CBRE Global Investors. The acquisition price breaks down to $218,675 per unit.
The apartment community, located at 2121 Delgany St., was opened 10 years ago. MEPT has plans to upgrade the common areas, club room, leasing center, fitness center and unit finishes. Pam Koster and David Martin of Mountain States Moran & Co. represented the seller. For the full story, go to Denver Business Journal .
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