Baron Properties sells 50-unit Denver asset, Liv on Steele

Baron Properties capped off 2018 with the disposition of one of its multifamily communities, Liv on Steele. Located in the highly sought-after Congress Park neighborhood of Denver, the property offers easy access to downtown Denver, City Park, and popular retail and entertainment centers. The seven-story, 50-unit building located at 1412 Steele Street was constructed in 1969 with underground parking.

Baron acquired the asset in July-2014 and completed an extensive renovation of the unit interiors and common areas. In December-2018, Baron sold the asset to RedPeak for $13.25 million, or $265,000 per unit. The disposition is an example of Baron’s successful investment and renovation strategy.

Baron currently owns and operates over 3,500 units across Colorado, Arizona, and Texas. Looking forward, Baron plans to acquire 800 units in 2019 across its major target markets. Additionally, the firm plans to bolster its other investment platforms: Industrial and Self-Storage.