Unique Properties, Inc./TCN Worldwide Sells Terra Village Apartments for $110,000,000
Ranking as the TCN Worldwide transaction with the highest total value closed during the 2nd quarter of 2022, the 402-unit property sold for $273,631 per unit or $324/SF at a total value of $110 Million.
Unique Properties, Inc./TCN Worldwide is Colorado’s most experienced, privately held, full-service commercial real estate brokerage firm and has been a member of TCN Worldwide since 2008. The Firm provides solutions for a full range of property types including office, industrial, retail, land, and multifamily. Unique Properties, Inc./TCN Worldwide and the Unique Apartment Group proudly announced the sale of the Terra Village Apartments for $110,000,000.
Terra Village is situated just northwest of Sloan’s Lake on 26th Avenue. The 402-unit property sold for $273,631 per unit or $324/SF.
The sellers were approached with an offer by Trion Properties, a California-based investment group with a strong presence in the Colorado market. This is Trion’s fifth purchase in the Colorado market since 2020, having acquired 11100 E Dartmouth Ave in late 2021. Trion plans to continue to upgrade the entire building over the next 12 months.
Trion has said they will rename the property “EDGE 26 at Sloan’s Lake” and invest in new upgrades and renovations throughout the property. Renovations are to include new kitchen cabinets, stainless steel appliances, tile backsplashes, updated bathrooms, and furnishing each unit with a washer and dryer.
Elliott Polanchyck, Will McCauley, Phil Dankner, Kevin Higgins, and Marc Lippitt of Unique Properties/TCN Worldwide and the Unique Apartment Group were the exclusive agents in the transaction.
According to an article on Mile High CRE, The Edgewater/Sloan’s Lake submarket has seen unprecedented growth with no signs of slowing down, as it has solidified itself as one of Denver’s most popular neighborhoods to live in. The property is within walking distance of a multitude of vibrant restaurants, food halls, bars, and local hotspots that attract Denver residents from all neighborhoods.
For more information about the services provided by Unique Properties, Inc./TCN Worldwide, please visit uniqueprop.com.
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