A newly completed Colorado Springs apartment asset sold to an undisclosed buyer for $9.06 million, or $150,917 per unit. An undisclosed buyer purchased the Alturas at Bell Tower, a 60-unit community at 1130 Bell Tower Heights. Constructed in 2013, the property received a significant amount of attention due to its notable upside in rents, condominium-quality…

It wasn’t a huge apartment deal in terms of the sales price. But the recent sale of the 58-unit Village West in Arvada was significant for two reasons. First, it illustrated the attractiveness of value-add deals for investors. It also is an example of how Arvada is increasingly on the radar screen of investors. Read…

In April 2014, California-based TruAmerica made its first apartment community acquisition in Denver by paying $55 million for the 564-unit Tamarac apartment community. Recently, TruAmerica sold the community on a 25.16-acre site at 3300 S. Tamarac Drive to another California company, Gelt Inc., for $74 million. It also was Gelt’s first purchase in Denver. The…

A Greenwood Village-based buyer continues to grow its Colorado Springs portfolio, most recently with the purchase of a pair of properties for $23.6 million. Vukota Capital Management paid $18.35 million for the 312-unit Residence at Austin Bluffs and $5.25 million for the 92-unit Chestnut Springs. Both Residence at Austin Bluffs and Chestnut Springs combine historically…

Dr. W.L. Asher runs a weight loss clinic in Littleton. But through his Asher Investments, he also has been an avid investor in apartments in the Denver metro area since the 1970s. Late last year, Asher Investments purchased the 297-unit Alta Harvest Station from its developer, Wood Partners, for just under $64.5 million. The sale…