Carmel Companies Sells Denver Multifamily Properties for $275 Million

By Gabriel Circiog, Associate Editor Denver-based Carmel Companies proceeded to sell $275 million worth of multifamily properties over the last few weeks. The apartment management company, founded in 1965 by Kal Zeff, had retained CBRE as an exclusive adviser for the [...]

Denver-based Carmel Companies proceeded to sell $275 million worth of multifamily properties over the last few weeks. The apartment management company, founded in 1965 by Kal Zeff, had retained CBRE as an exclusive adviser for the marketing of its Denver multifamily portfolio, which included around 8,000 units in 24 properties.

The Denver Business Journal reports that the first of the properties was sold in October; California-based Dinapoli Capital Partners acquired the 156-unit Villas at Homestead in Centennial for $45 million.

Below is a list of recent transactions involving the Carmel Companies’ Denver portfolio, according to public records cited by The Denver Business Journal:

  • Torrey Pines, 7575 E. Arkansas Ave., Denver, 235 units, bought by Friedkin Realty Group Inc. for $19.5 million;
  • Carmel Alton Green Apartments, 8965 E. Florida Ave., Denver, 312 units, bought by Friedkin Realty Group Inc. for $29.5 million;
  • Renaissance, 9110 E. Florida Ave., Denver, 560 units, bought by ConAm Investment Group for $70.75 million;
  • Regatta, 10500 Irma Drive, Northglenn, 352 units, bought by The Bascom Group LLC for $44.25 million;
  • Parc at Cherry Creek, 7555 E. Warrant Drive, Denver, 408 units, bought by Ringham Corp for $40.25 million;
  • Dove Valley complex, 7550 S. Blackhawk, Arapahoe County, 312 units, bought by VVP DVA LLC for $38.1 million;
  • Greenwood Point complex, 5312 S. Broadway Circle, Englewood, 312 units, bought by CH Greenwood Point LLC.

For more local news from Denver, click here.

Photo Credits: www.theregatta.net