 |
| Cottonwood Terrace apartments, 2864 Dublin Boulevard Colorado Springs, CO |
DENVER, CO – JLL Capital Markets
announced it has completed the $37.25 million sale and $28.5 million
financing of the Cottonwood Terrace apartments located at 2864 Dublin Blvd in
Colorado Springs, Colorado.
JLL worked on
the behalf of the seller, Peak Capital, to complete the property sale to Oak
Coast Properties.
 |
| Jordan Robbins |
The
garden-style Cottonwood Terrace apartments consist of 20 buildings with 200
units, averaging 819 square feet, atop 8.27 acres.
Cottonwood Terrace is
centrally positioned near Colorado Springs’ largest employment hubs and most
notable retail centers, such as the 1.2-million-square-foot Chapel Hills Mall.
Additionally, the apartment community is in close proximity to the U.S. Air
Force Academy and the U.S. Olympic Headquarters, along with some of Colorado’s
most desirable hiking and outdoor recreation sites like Garden of the Gods,
Manitou Springs and Pike’s Peak.
“Our apartments
portfolio continues to perform and beat expectations, even with COVID-19 as a
backdrop,” Phil Nahas, Managing Partner of Oak Coast Properties. “Thus,
we are comfortable continuing to acquire quality multifamily properties like
Cottonwood Terrace.”
 |
| Mack Nelson |
JLL’s
Capital Markets team representing the seller is led by Managing Director Jordan
Robbins and Directors Mack Nelson and Chris White.
Financing is
led by Senior Managing Director Charles Halladay, Senior Director Brock
Yaffe and Director Rick Salinas.
“Cottonwood
Terrace is a great investment opportunity with a historically strong
performance,” said Robbins.
“It is a tremendous value-add property with plenty of room for renovations to continue increasing the value of the community.”
 |
| Chris White. |
“It is a tremendous value-add property with plenty of room for renovations to continue increasing the value of the community.”
“Colorado
Springs continues to be sought after by a growing amount of capital,” added
Nelson. “The sales process was competitive, resulting in strong pricing and
excellent execution by Oak Coast, even during the global pandemic.”
JLL delivers multi-housing investors a
full range of solutions through one diverse, integrated platform.
The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.
 |
| Charles Halladay |
The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.
About
Peak Capital
Peak Capital Partners owns and manages apartment complexes
throughout the United States.
Through analytically stringent management, disciplined underwriting and a relentless sourcing of new opportunities, Peak Capital provides equity partners with compelling multi-family investment opportunities that produce portfolio diversification, compelling cash yields, capital appreciation, and tax benefits.
About
Oak Coast Properties
Through analytically stringent management, disciplined underwriting and a relentless sourcing of new opportunities, Peak Capital provides equity partners with compelling multi-family investment opportunities that produce portfolio diversification, compelling cash yields, capital appreciation, and tax benefits.
 |
| Brock Yaffe |
Oak Coast Properties is a real estate
investment firm primarily focused on core plus, value-add and opportunistic
real estate acquisitions across the United States.
Our exclusive platform not
only provides collective investment opportunities in direct deals, but also
accommodates Joint Venture investments alongside likeminded JV operating
partners with experience in their asset classes and geographic locations.
About
JLL
JLL (NYSE: JLL)
is a leading professional services firm that specializes in real estate and
investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of
$18.0 billion, operations in over 80 countries and a global workforce of more
than 94,000 as of March 31, 2020.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
 |
| Rick Salinas |
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Natalie Passarelli
JLL
Senior Associate
Public
Relations
Phone: +1 (224)
477-7307
No comments:
Post a Comment