Vukota Capital recently purchased a second apartment complex in Colorado Springs — Wind River Place located at 919-935 N. 19th St. The sales price was slightly more than $7.5 million.
The transaction was brokered by Kevin McKenna and Saul Levy of ARA Newmark. They represented the seller, LocalConstruct, a private real estate investment and development company.
The 120-unit apartment complex was built in 1973 and is 98 percent leased, according to a press release by ARA.
“We had a number of investors looking for an opportunity to acquire a turn-key asset in a desirable location. This property’s buyer will have a strong return without having to push rents through a renovation program and can ride the wave of a rapidly improving rental market,” McKenna said.
Vukota Capital recently purchased Villages at Woodmen, a property in Colorado Springs that was also brokered by ARA Newmark. The company also owns six properties in metro Denver.