The buyer assumed an existing loan of $2.8 million at 7.15% from the seller, also a local area investor. Marcus & Millichap brokers David Potarf, Dan Woodward and Tim Shunta represented the seller. Tom Welsh and Jerry Thompson of Coldwell Banker Commercial represented the buyer.
"Kenyon Place Apartments has a solid, in-fill location near Swedish Hospital and Englewood High School," says Shunta, of Marcus & Millichap.
Woodward agrees. "The quality of the asset and the solid location were major factors that drove the buyer's interest," says Woodward.
In another deal by Marcus & Millichap, brokers Jules B. Hochman and Kevin P. Higgins represented the sellers of the 20-unit Belmont Manor sale at 1430 Independence St., Lakewood.The Uptown Partnership paid $1.3 million for the property. Dennis and Regina Maes, the sellers, had owned the property since 1997.
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