Friday, March 11, 2011

Opus sells remaining units in City Park tower

By Margaret Jackson
The Denver Post

Opus Northwest has sold the remaining 72 condos at the Pinnacle at City Park South for more than $20 million, bringing it one step closer to pulling out of the Denver market.

Condo Capital Solutions, the Louisville-based real estate investment and turnaround company that bought the units, will sell them at prices well below what they were offered for when the project was completed in 2007.

"Buyers are going to get a good deal," said Marcel Arsenault, principal of CCS. "They'll probably clear out fairly fast. When people get a good deal, they generally line up and take advantage of it."

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