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Cantamar Apartments Associates Acquires Property At 2205 Alpine St In Longmont For $50M With Broker David Fogler

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SOLD
$50,000,000

Colorado

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Cantamar Apartments Associates Acquires Property At 2205 Alpine St In Longmont For $50M With Broker David Fogler

2205 Alpine St, Longmont, CO, 80504

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MultiFamily
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Summary

COLORADO
Asset Type:MultiFamily
Transaction Type:Sale

Cantamar Apartments Associates has purchased a multifamily property located at 2205 Alpine St, Longmont, CO, 80504, for $50,000,000. The property consists of 126 apartment units and has been renamed Alpine Prairie Village. It features one-, two-, and three-bedroom apartments equipped with modern appliances and amenities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $50,000,000
  • Address: 2205 Alpine St, Longmont, CO, 80504
  • Market: Longmont
  • Buyer: Cantamar Apartments Associates
  • Seller: An entity formed by DHI Communities
  • Buyer’s Representative: David Fogler, Steven Nicoluzakis - Cushman & Wakefield
  • Units: 126

The transaction was facilitated by David Fogler and Steven Nicoluzakis from Cushman & Wakefield’s Multifamily Advisory Group, who represented Cantamar Apartments Associates in this acquisition.

Players

Steven Nicoluzakis
9 deals$319.8M volume(602) 524-4434
BROKER

David Fogler
Cushman & Wakefield
9 deals$319.8M volume(602) 999-2949
BROKER

Details

SOLD
IMAGE: 2205 Alpine St, Longmont, CO, 80504 MARKET: Longmont BUYER'S REP: David Fogler, Steven Nicoluzakis -Cushman & Wakefield BUYER: Cantamar Apartments Associates PRICE: $50,000,000.00 SF: 0

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Operating Expenses (Annual)
Net Operating Income (NOI)

$2,666,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$177,639.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$237,025.51
Annual Debt Service$2,844,306.11