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Apartment sales remain hot in Q3

Apartment sales remain hot in Q3

Multi-family housing sales in Colorado Springs have continued to increase in the first three quarters of 2014, driving the local market to new highs, according to a report by local apartment firm Commonwealth. “The Colorado Springs apartment market is on a record breaking pace,” Commonweath CEO Ron Spraggins wrote in the report. The sales of… Continue Reading Apartment sales remain hot in Q3

Monument apartment complex plans expansion

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Monument apartment complex plans expansion

The Vistas at Jackson Creek is planning a $9.6 million expansion to the luxury apartment complex located in Monument, Colo. The plan is to add 90 more units to the 177 apartments already built in the complex, just north of Monument Marketplace on the east side of Jackson Creek Parkway. Construction on 3.74 acres will… Continue Reading Monument apartment complex plans expansion

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A California real estate investment company has purchased the largest apartment complex in downtown Colorado Springs. The 200-unit Palmer Park Apartments at 1304 San Miguel St. was built in 1949. California investment company LocalConstruct bought the property for an undisclosed amount, according to a release from Apartment Realty Advisors, which brokered the deal for the… Continue Reading California investment firm buys apartments near downtown

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A California real estate investment firm has purchased 70-unit Shannon Hills Apartments near Constitution Avenue and Union Boulevard. Western Investment Partners paid $3.415 million for the property at 2110 E La Salle St., which was built in 1966 and 1974. That’s $48,786 per unit and $60.82 per square foot, according to a release from Apartment… Continue Reading Calif. investor buys Shannon Hills apartment complex

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Old Manitou motels transition into rentals

The road into Manitou Springs is populated with a seemingly endless string of quaint motels built in the 1950s and ’60s, zipping motorists back to the heyday of the automobile and great family road trips. There’s just one problem — the motels are old. Some have been well maintained and appropriately whet visitors’ appetites for… Continue Reading Old Manitou motels transition into rentals

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There were $198 million in apartment building sales in Colorado Springs in 2012. That’s the most since the start of the recession in 2007, according to market experts. “It was a lot more fun to be an apartment broker last year than it has been for a while,” said Stuart Sloat, an apartment broker who… Continue Reading Apartment sales market still strong across the city

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Plans are afoot to replace aging storefronts along the 400-block of South Nevada Avenue with a mixed-use development of apartments and retail. Continue Reading Apartments planned for South Nevada Ave.

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Denver-based BMC Investments recently bought two Colorado Springs apartment properties. BMC paid $4.2 million for 148-unit Timberlane Apartments at 3985 E. Bijou St. and $3.175 million for 95-unit Ashelyn Court at 930 N. Murray Blvd. Both complexes are about 90 percent occupied, according to a release from FirstBank, which financed the purchases. BMC plans to… Continue Reading Denver investment company buys Springs apartments

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Local apartment rents continued to rise during the third quarter despite flat vacancy rates. Average rents hit a record high of $787 without adjusting for inflation and vacancy remained flat at 6.1 percent, according a report released today by the Colorado Division of Housing. The vacancy figures are different from what division of housing spokesman… Continue Reading Rising rents and steady vacancy rates hold through new apartment construction

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Colorado Springs’ apartment sales market seems like it’s hot right now, but the numbers suggest it’s just getting back to “normal” after a sleepy few years. Continue Reading Apartment market returning to ‘normal’ in 2012

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