Midland Lofts

midland-case-study-thumbnailProperty Type:  Conversion of 1921 Downtown Denver office building into residential

Size:  110,000 sf, converted into 83 residential units and ground-floor retail in 10-story building

Location:   17th & Glenarm – Denver CBD

Investment Strategy:  Adaptive re-use

 

 

The Story:

  • Historic Midland Savings building had been vacant above street level for nine-years
  • Acquired property and received historic tax credits to renovate exterior and convert interior into residential use
  • Leased to 98% in the first year
  • Converted to condominiums and sold all units in less than one-year
  • Investors received 12%+ IRR
  • Downtown Denver Partnership recognized project for contribution to downtown environment and residential base