Olive Real Estate Group, Inc.’s multifamily division recently sold the 150-unit Regal Estates apartments located at 105 S. Academy Blvd., Colorado Springs, CO 80909. The property traded for $17,250,000 or $115,000 per unit and closed on June 20th, 2019. Stuart Sloat and Adam Rezner of Olive Real Estate Group, Inc. represented the seller.
The property consists of five garden-style apartment buildings constructed in 1972 with 145 large two-bedroom units and 5 one-bedroom units. Occupancy was 90% at the time of sale. The property’s central location provides quick access to Downtown, Interstate 25, the Powers corridor and numerous restaurants, retail centers, and schools.
For more information about this transaction please contact: Stuart Sloat at stuartsloat@olivereg.com or 719-955-1659, or Adam Rezner at arezner@olivereg.com or 719-955-1625.
About Olive Real Estate Group, Inc.
Olive Real Estate Group, Inc. is a recognized leader in the Southern Colorado commercial real estate marketplace. Serving clients as they expand, relocate, develop, and invest to reap business and financial gain in this area so ripe with opportunity. We know the Southern Colorado Commercial Real Estate market inside and out. We’ve experienced its highs and lows—successfully. We’ve been serving this market since 1976. Our Southern Colorado roots are deep and our experience is firsthand.
