Correction: A previous version of this article cited a Cushman & Wakefield news release which stated the Carefree Village Townhomes sale brought in the highest price-per-unit for a pre-1990’s multifamily property in Colorado Springs. A fall 2018 Newmark Knight Frank sale of Broadview Ridge brought a per-unit price of $203,846.
A townhome complex in northeast Colorado Springs has sold for $12.8 million.
Cushman & Wakefield, which facilitated the sale of Carefree Village Townhomes at 4801 Pacer Lane, announced the Dec. 28 property closing in a Monday press release.
The California-based buyer, Alta Community Management, purchased the complex — comprised of 64 3-bedroom, 2-bathroom townhomes with attached single car garages — for $12,875,000.
Tyler Stevens, director, and Steve Scrivener, senior associate, of Cushman & Wakefield Denver’s Multifamily Investment Sales team represented the California-based seller, Compass Acquisition Partners, in the sale.
“Market fundamentals and investor sentiment in Colorado Springs remain strong — low unemployment and an economy that continues to diversify has put upward pressure on wages, and in turn, has continued to drive rent growth market-wide,” Stevens said. “Though vacancy has increased recently with the military deployment of over 10,000 troops, the overall rental market is healthy and absorption of new multifamily product has been very strong.”
The release didn’t provide any additional information about the buyer.