FOR IMMEDIATE RELEASE
CONTACT: GREG JOHNSON
(303) 343-8333

RECORD APARTMENT SALES LEVELS LIKELY TO RESULT IN PROPERTY TAX SHOCK NEXT SPRING

DENVER, July 15, 2014 – A review of recent sales data for Central Denver apartment properties points to shocking news ahead for property owners. Veteran apartment brokers, Greg Johnson and Kyle Malnati of Madison Commercial Properties studied data for all multi-family property sales in Denver’s core neighborhoods this year, and found prices have increased an average of 89% over the last two years.

“We analyzed the data for apartment buildings with 10 or more units, focusing on Capitol Hill, Washington Park, Congress Park, Uptown and Mayfair neighborhoods. In the first half of 2014 there have been 38 transactions, representing just over 1,000 apartment units. The average price this year has been $138,980 per unit,” explained Mr. Johnson. He went on to note that in the first six months of…