Wellshire Arms sells

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vivian e. vigil said:

I wish I was the one to purchase the both of them because if I did I'd make it into a low income housing project and let all my friends move in :)
CREJ said:

The project is anticipated to be completed in spring 2014.
Anonymous said:

When is this project expected to be finished?
JD Crouse said:

HI Kris, Loan Investing has been a wonderful strategy for my company over the last 5 years. I've been able to buy multiple loans in my own back yard from banks and sellers who had carried back a note. The returns have ranged from the low to high double digits with a high level of security (20 - 60 % LTV). I don't see loan sales slowing for a long time for no other reason that we have 20 years worth of FDIC 'loss-share' assets waiting to be disposed. Thanks for the article! JD Crouse http://LoanInvestingBlueprint.com

27 July 2012 | Posted in Multifamily, Denver Market

When the Wellshire Arms Apartments opened in Observatory Park a half-century ago, it was an instant landmark.

The 12-story building was the tallest building in southeast Denver and sported features such as floor-to-ceiling windows that were unheard at the time.

The Denver office of ARA recently sold the building for $12.5 million and the new owner plans to spend another $3 million on it.

View all posts by John Rebchook

John Rebchook joined the editorial staff of the CREJ in late 2011 to cover Multifamily, Retail and Investment Real Estate. John was an award-winning writer and editor for the Real Estate Section of the Rocky Mountain News from 1983 through 2009. John also covered economic development, banking and other economic news for the paper.

In addition to his work at the Rocky Mountain News John was a founding freelance journalist for GlobeSt.com, covering commercial real estate, and continues to maintain his own real estate blog at insiderealestatenews.com. Rebchook graduated from Southern Illinois University with a degree in journalism.

When not keeping his readers up to date on the latest in commercial real estate news, John loves to spend time with his wife and daughter, and has run more than 40 marathons.

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