11/05/2024
Josh Newell, Owner/Principal, and Jake Waxter, Advisor with The Newell Team at Pinnacle Real Estate Advisors, are pleased to announce the sale of Willowbrook Crossing, a 95-unit apartment community in Westminster, Colorado. The asset consists entirely of studio and one-bedroom units and closed on October 31, 2024, at a transaction price of $13,500,000—equating to $142,105 per unit and $200.32 per square foot.
Waxter noted the complexity of the sale, stating, “Despite navigating a volatile debt environment throughout the spring and summer, compounded by rising insurance costs, our marketing strategy successfully generated significant interest, resulting in 18 offers for our out-of-state Seller.” Willowbrook Crossing was positioned as a value-add opportunity, appealing to investors seeking long-term potential through property enhancements and market repositioning.
Newell expanded on the deal’s significance, saying, “This was one of our more time-intensive and strategically complex transactions in recent years. The exceptional platform we have at Pinnacle allowed us to facilitate this challenging sale, adding value for both Buyer and Seller by aligning their business objectives and transaction timelines.”
Both the Buyer and Seller were assisted by Josh Newell and Jake Waxter in this transaction. The Newell Team remains committed to delivering results in all market conditions, emphasizing diligence, expertise, and a client-focused approach to achieve exceptional outcomes in every deal.
Read more about this sale here: https://pinnaclerea.com/deals/pinnacle-announces-sale-of-95-unit-apartment-building-in-westminster/
