By Greg Johnson
2016 is off to a robust start, with our team alone closing eight transactions since the beginning of the year. This could reverse the trend seen last year, when transaction volume was down slightly across Central Denver compared to 2013 and 2014.
Our 2016 sales include an 11-unit building near DU for $161,000/door, and a 17-unit building on South Lincoln for $147,000/door. Both of these transactions involved buyers completing 1031 exchanges, and both deals reflect the same investor confidence in the market that drove average prices to a record level above $150,000/door in Central Denver last year.
While there is some uncertainty around apartment performance this year, for example; vacancy rates, many investors continue to believe multi-family buildings are the best choice in the economy.
Find out more about 1031 Exchanges from the National Association of Realtors Here