A sought-after pair of valueadd apartment communities sold to a partnership making its first purchase in Colorado Springs. The Bascom Group LLC and an affiliate of The Axton Group acquired the Summer Grove Apartments and Tanglewood Apartment Homes. Summer Grove and Tanglewood were built in 1971 and 1972, respectively, and are located at 3802 and…

A dual-branded hotel is taking shape in downtown Colorado Springs. Atlanta-based Hotel Equities and an affiliate of Colorado Springs-based Olive Real Estate Group broke ground on the dual-branded SpringHill Suites by Marriott and Element by Westin at 402 S. Tejon St. Owned by the Olive affiliate, the dual-branded hotel will be the first-ever combination of…

It’s not only near occupancy for the Airport Business Center but also Colorado Springs’ industrial market. Two long-term leases totaling almost 75,000 square feet recently were signed at the four-building, more-than-210,000-sf industrial park at Aviation Way and Zeppelin Road – deals indicative of the level of activity in Colorado Springs’ industrial market. “As soon as…

A Marriott-flagged hotel in Colorado Springs recently traded hands. The Fairfield Inn & Suites by Marriott Colorado Springs North/ Air Force Academy sold for $10.95 million, according to public records. Hotel Equities, through its affiliate Virtua Partners, purchased the 85-room hotel from Jackson Creek Hotel Holdings LLLP. Hotel Equities operates the hotel and will continue…

A fully leased office building in the Patriot Park campus in Colorado Springs recently traded for $9.15 million, or $177 per square foot. A limited liability company led by Robert Blaha, according to public records, purchased the two-story, 51,770-sf office building at 745 Space Center Drive from Crescent Real Estate, which was part of a…

A partnership recently picked up a Fountain apartment property at a price topping $2 million. 

The buyer paid $66.5 million, or $251,894 per unit, for the community built in 2018, which was 80 percent occupied at the time of sale.

In-N-Out Burger officially closed on two parcels of land at the Victory Ridge project in Colorado Springs.

The health care system paid $30 million for a 57.81-acre parcel at the intersection of Interstate 25 and Interquest Parkway, where, in 2020, it is anticipated to start work on a third hospital campus for Centura Health’s Penrose-St. Francis Health Services. 

The charming town of Colorado Springs, founded by Gen. William Jackson Palmer in 1871, has long been a popular destination. The beautiful scenery welcomed U.S. and international visitors, and the plentiful sunshine and dry climate drew those seeking health benefits.