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Griffis/Blessing buys Ridgepointe for $30.3 million

A Colorado Springs-based real estate investment group recently purchased Ridgepointe at Gleneagle Apartments for $30.3 million. Griffis/Blessing Inc. finalized the purchase of the 240-unit property Dec. 3 with $22.5 million in financing from Freddie Mac and the remaining $8 million in investor equity, according to Chief Investment Officer Gary Winegar. The property is located in… Continue Reading Griffis/Blessing buys Ridgepointe for $30.3 million

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State housing price index dips slightly since August

The U.S. housing price index rose .2 percent overall from $231,000 in August to September’s rate of $232,000, according to a report by Lender Processing Services Inc. That national number saw a 9 percent swell from the $212,000 HPI rate that LPS marked the same time last year but a 14.1 percent decrease from its… Continue Reading State housing price index dips slightly since August

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Cimarron Hills named third least expensive suburb in U.S.

Cimarron Hills was named the third least expensive suburb in the United States, according to Movoto, a blog about “the lighter side of real estate.” Located in Colorado Springs, the suburb lies between Powers Boulevard and Marksheffel Drive, bordered also by Colorado Highway 24. Movoto Content Editor Randy Nelson studied the cost of living, food… Continue Reading Cimarron Hills named third least expensive suburb in U.S.

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As a young, single and freshly transplanted Coloradan, I’m no stranger to the woes of apartment hunting — as well as the dread of paying subsequent rent and utility bills. The Apartment Association of Southern Colorado released earlier this month its third-quarter “Colorado Springs Metro Area Apartment Vacancy and Rent Study,” which noted that our… Continue Reading Rent up, no vacancy: Young folks just want to move downtown

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Local market cools, but still holding up

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Local market cools, but still holding up

Following a summer full of home sales hype, both the local and national residential real estate markets cooled off in September for the first time in months. Although the Colorado Springs market may be on the decline until the new year, local experts say it is faring better than most. After hitting the highest level… Continue Reading Local market cools, but still holding up

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Crowley still focuses on need to diversify

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Northstar Bank Colorado hosted an economic forecast luncheon recently at Cheyenne Mountain Resort. Northstar President Mark White greeted the group, explaining that the recent merger of The Bank at Broadmoor and Colorado Community Bank makes Northstar the 11th-largest, Colorado-chartered bank with 20 locations on the Front Range and eastern Colorado. “[The merger] allows us to… Continue Reading Crowley still focuses on need to diversify

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Sierra Commercial Real Estate Inc. released its third-quarter report Thursday, showing optimistic views of the retail, office and industrial real estate markets. The third iteration of Market View 2013 illustrates negative trends in both vacancy and leasing cost rates, as well as positive views of leasing activity throughout the past three months. RETAIL According the… Continue Reading Sierra’s Q3 report shows optimistic view of the Springs

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Salzman receives award from Realtors’ association

Harry Salzman, broker and owner of Salzman Real Estate Service, received Realtor Emeritus status from the National Association of Realtors. The honor was awarded in “recognition of 40 cumulative years of membership in the NAR and in recognition of his valuable and lasting contribution to the real estate profession,” said a press release announcing the… Continue Reading Salzman receives award from Realtors’ association

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GoG Club to soon shift ownership

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After months on the market, a Garden of the Gods Club executive said that the facility, land and assets are in the process of being purchased. Few details are known of the club’s pending sale — including the identity of the buyer, who has requested anonymity until time of closing — which is being brokered… Continue Reading GoG Club to soon shift ownership

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Time a factor in Goodwill sale, OCC future

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Time a factor in Goodwill sale, OCC future

When Kum & Go abandoned plans last week to build on the Goodwill parcel in Old Colorado City, it turned planning for the property into a redevelopment race. At least one developer plans to make an offer on the property next week, a second anonymous developer is piecing together a proposal and Goodwill now says… Continue Reading Time a factor in Goodwill sale, OCC future

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