840 Cherry: Denver Apartment Building Sale (Hale Neighborhood)

Kyle Malnati and Greg Johnson sold a 17-unit apartment building, called “Melrose Place,” to a Buyer in a 1031 Exchange. We have been fortunate to have served several repeat clients during our career. In the case of 840 Cherry Street, the Seller and the Buyer both happened to be repeat clients of ours. That type of familiarity can be productive, but familiarity can also breed contempt if you’re not careful. Real estate transactions are complicated, and tax deferred 1031 Exchanges can be especially stressful due to the anxiety associated with the Buyer’s search for a replacement property with a 45-day deadline looming.

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