Glenridge Apartments acquired in Colorado
Out-of-state investors make deal
By Inman News, Friday, October 6, 2006.Marcus & Millichap arranged the sale of Glenridge Apartments, a 220-unit apartment complex in Colorado Springs, Colo.
The value of the transaction was $15.6 million, or $71,136 per unit.
Glenridge LLC, a West Coast-based private investor, purchased the property from CDS-CO2 Property Associates, a Utah-based apartment investment group.
Located at 4770 Nightingale Drive, the property consists of 11 three-story buildings and a 176,536-square-foot clubhouse/leasing office. Constructed in 1984, the property features a swimming pool, an indoor hot tub, saunas, a fitness center and a racquetball court.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage operating nationwide.
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