Colorado Springs, CO – October 15, 2021 – NorthPeak Commercial Advisors, LLC is pleased to announce the sale of The Reserve in Colorado Springs, CO.
Advisor Keith Hardy and Principals Joe Hornstein & Scott Fetter (NorthPeak Commercial Advisors) were the only brokers involved in this transaction.
“Our buyer was able to acquire a true value-add asset and establish a foothold in the up-and-coming Colorado Springs Market.” Hardy said. “After beating out several other offers from highly qualified investors, our client was able to win the day with competitive terms including a significant amount of hard earnest money at contract execution and take over a multifamily asset that hasn’t changed hands in over 20 years.” – Keith Hardy, NorthPeak Commercial Advisors
For more information on this investment or current market conditions, please contact Keith Hardy at 303-396-9292 or Keith@NorthPeakCRE.com.
SALE HIGHLIGHTS
Sold Date: October 15, 2021
Sale Price: $10,614,000
Property Type: Multifamily
Address: The Reserve | 2001-2019 Carmel Drive, Colorado Springs, CO 80910
Number of Units: 87 | Price Per Unit: $122,000
Property SF: 53,316 SF | Price Per SF: $199
