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DENVER-Spledie LLC, a local investment company, has paid $1.2 million for the Hillside Garden Apartments, a 22-unit property at 5420 W. 6th Ave. Frontage Road in Lakewood.The property was built in 1974. The sellers were Jerry Kringel and Audrey Kelm, out-of-state owners.

The property consists of 18 two-bedroom/one-bath and four three-bedroom/one bath units. The buyer plans to do some renovations, says Grubb & Ellis broker Terrance Hunt, who handled the deal with his partner, Matthew Meredith.

“This local investor can take advantage of his “hands-on” management style to more efficiently operate this property, increasing occupancy and controlling expenses. This is something the out-of-state sellers have had difficulties with,” Hunt says.

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