LOVELAND, CO – August 11, 2021 – Berkadia announced today the sale of The Gallery Flats, a mid-rise multifamily property in Loveland, Colorado. Senior Directors Nick Steele and John Laratta, Director Tyler King and Associate Director Nate Moyer of Berkadia Denver led the transaction on behalf of the seller. The deal closed August 5.
The Gallery Flats sold for $18.05 million. The sales price reflects a per-unit price of $273,485, the highest price per unit ever achieved for a multifamily asset in Loveland, Colorado.
“This was another record setting transaction for us in Northern Colorado,” said Steele. “It’s been great to see the investment community acknowledge the desirability and economic strength of the Northern Colorado region at large. These communities are some of the most vibrant and dynamic communities in the Mountain West.”
Located at 585 N Lincoln Ave, The Gallery Flats was built in 2014 and features 66-units with high ceilings, washer/dryers, energy efficient appliances, plank flooring, a media room, clubhouse, ﬁtness center, controlled access, bbq/picnic area and bike storage. The property affords excellent connectivity to historic downtown Loveland, and many other restaurants, shopping opportunities, museums and outdoor activities.