Sentinel Real Estate Corp. acquired the Encore First & Main apartment community in Colorado Springs in a record-setting sale.
The buyer paid $67.3 million for the 315-unit community in a transaction that represented not only the highest price ever paid in Colorado Springs but also pricing around $50,000 per unit above the previous record sale – records not likely to be eclipsed soon due to the rarity of Class A-plus product in the Colorado Springs market.
Kevin McKenna, Saul Levy, Doug Andrews and Jeff Hawks of ARA Newmark handled the sale of Encore First & Main, which was built in 2014. Nor’wood Development Group sold the community at 6102 Olmstead Point.
