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A Colorado Springs apartment complex has sold for a record price to a Denver-area group, another sign that out-of-town investors remain upbeat about the city’s red-hot multifamily market.
Blueline Equity Partners recently purchased the 91-unit Overlook at Mesa Creek for $27.3 million, El Paso County land records show. The complex, southwest of Centennial Boulevard and Fillmore Street on the northwest side, opened two years ago.
The $299,835 per-unit price for Overlook at Mesa Creek is believed to be the highest ever paid for an apartment property of more than 50 units, according to Goodwin Knight, a Colorado Springs development company that built the complex, and All Pro Capital, a local investment firm that financed it.
A Colorado Springs apartment complex has sold for a record price to a Denver-area group, another sign that out-of-town investors remain upbeat about the city’s red-hot multifamily market.
Blueline Equity Partners recently purchased the 91-unit Overlook at Mesa Creek for $27.3 million, El Paso County land records show. The complex, southwest of Centennial Boulevard and Fillmore Street on the northwest side, opened two years ago.
The $299,835 per-unit price for Overlook at Mesa Creek is believed to be the highest ever paid for an apartment property of more than 50 units, according to Goodwin Knight, a Colorado Springs development company that built the complex, and All Pro Capital, a local investment firm that financed it.