"The demand for 4800 Osage was unprecedented," says Shane Ozment of Apartment Realty Advisors in Denver, which listed the property for American Indian College. "The offers consistently came in well above the list price, with the majority coming from condo converters."
Triton, Ozment says, will do an "amazing renovation," and when it is completed, "the property will look and feel completely different and it will be a great asset to the neighborhood." The multifamily rental community was constructed in 1963. It has 36 two-story, townhome-style units with a balcony off each bedroom. Each unit is approximately 915 sf with two bedrooms and 1.5 baths The units feature a large living room with a sliding glass door opening into a semi-private patio. The building is near Foothills Parkway and Table Mesa Drive in a quiet residential neighborhood close to parks and public transportation.
In addition to Ozment, the seller was represented by Jeff Hawks and Doug Andrews, both of whom are principals of Apartment Realty Advisors. The ARA Colorado team so far this year has sold $140 million in apartments and has sold $1.4 billion in Colorado apartment properties during the past five years.
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