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2010 Carmel Drive, Colorado...

Turnstone Capital Acquires Apartment In Colorado Springs For $11.3M
SOLDMultiFamily

Turnstone Capital Acquires Apartment In Colorado Springs For $11.3M

2010 Carmel Drive, Colorado Springs, Colorado 80910, United States

$11,300,000

$185/SF

Building Size

60,858 SF

Asset Type

MultiFamily

Closing

Jan 11, 2022

AI

An apartment located at 2010 Carmel Dr. in Colorado Springs, CO has been sold in a recent transaction. The property, owned by Draper Property Management, was purchased by Turnstone Capital for a sale price of $11,300,000.

Summary of transaction details

The transaction was facilitated by CBRE brokers Saul Levy, Kevin McKenna, Mackenzie Walker, and Jessica Graham. They represented both the buyer, Turnstone Capital, and the seller, Draper Property Management.

Players

Kevin McKenna

Colliers

Broker

$135M

vol

5 deals

Broker
TC
Turnstone CapitalBuyer

Colorado Springs MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.40%

Cash-on-Cash

-0.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93