A 319-unit rental community in Boulder, Colorado has been acquired for $159 million, averaging to almost half a million dollars per unit. The sale was facilitated by Dan Woodward, David Potarf, Matt Barnett and Jake Young of Walker & Dunlop. According to the Colorado RE Journal, the seller is affiliated with Griffis Residential while Kairoi Residential acted as the buyer for 3100 Pearl.
The property features a mix of studios and one- to two-bedroom units ranging from 573 to 1,100 square feet. It was built in 2013 and at the time of sale had an impressive occupancy rate of 96%. Located just one mile away from University of Colorado campus adds value to this investment.
Kairoi Residential is a well-established multifamily investment company headquartered in San Antonio with additional offices located in Austin and Denver. Since its establishment in2003,the partnership has invested over $9.7 billion into acquiring65 ,000 multifamily units across various cities throughout United States.
