The sale price amounts to $67,875 per sf for a '70s product, Potarf tells GlobeSt.com.
''It's probably a record price for a property of that age and location,'' Potarf tells GlobeSt.com. ''I've seen similar aged communities in the area go for about $50,000 per unit.''
''The buyer sees it as an opportunity to add value by making improvements to the property,'' says Dan Woodward of the Denver office of Marcus & Millichap.
David Potarf of Marcus & Millichap also represented the buyer. They have sold more than $100 million in multifamily products in 2001.
''If the market is slowing as some have suggested, we have not seen it yet and still have multiple qualified offers for every property,'' Potarf says.
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