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DENVER-A Los Angeles-based company has paid $4.91 million for a 90-unit multifamily rental community in Denver. Elke Heuer, trustee for Heuer Trust, bought the Cherry Creek Abbey community at 911 S. Dahlia St.

The seller is Homburg Holdings Inc. of Colorado Springs.

According to public records examined by GlobeSt.com, Homburg paid $1.65 million for the community in 1989. The 57,276-sf project consists of five buildings. Four were built in 1981 and one built in 1991, says Frank Farell, a broker with the Denver office of Hendricks & Partners, which handled the sale.

The community was assessed at $3.652 million, according to country records, so the sales price reflects about a 35% premium over assessed value.

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