Dealmaker: Walker & Dunlop Completes $66M Denver Mixed-Use Sale

Walker & Dunlop, Bethesda, Md., sold downtown Denver mixed-use property The Lydian for $66.2 million.

The Lydian photo courtesy of Walker & Dunlop

Built in 2018, the Class A building includes 129 apartment units, 8,175 square feet of ground-floor retail space and 14,500 square feet of coworking office space.

Dan Woodward, Dave Potarf, Matt Barnett and Jake Young of Walker & Dunlop Investment Sales completed the disposition for Confluence Cos., Golden, Colo.

Cohen Rojas Capital Partners, Sacramento, Calif., purchased the property with Justin Nelson and Jay Thomas of Walker & Dunlop’s Capital Markets Group arranged acquisition financing.

“The sale of the Lydian is indicative of a rebounding of downtown Denver from COVID-19,” Woodward said. “Rent growth within the market is climbing higher than pre-pandemic levels.”

A yoga studio and a cocktail lounge occupy The Lydian’s retail space. Of the 129 rental apartments, 22 are reserved for families earning 80 percent or less of area median income. The property sits within downtown Denver’s Five Points neighborhood close to the 25th & Welton light rail stop.