Updated Oct 28, 2024
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
About this deal
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
- Property Type: Apartment
- Transaction Amount: $11,300,000
- Buyer: Turnstone Capital
- Seller: Draper Property Management
- Broker: Saul Levy, Kevin McKenna, Mackenzie Walker & Jessica Graham - CBRE
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
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