ColRich Multifamily Acquires 248-Unit Courtney Park In Fort Collins From JRK Property Holdings For $64.1M

The transaction involves the sale of Courtney Park, a multi-family property located at 4470 S. Lemay Ave in Fort Collins, CO. The asset consists of 248 units, priced at $64,100,000, which equates to a price per unit of $258,468. The property was built in 1986 and underwent updates in 2008, with plans for further improvements under new ownership, leveraging the strong demand in the market.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $64,100,000
• Units: 248
• Price Per Unit: $258,468
• Address: 4470 S. Lemay Ave
• Market: Fort Collins, CO
• Buyer: ColRich Multifamily
• Seller: JRK Property Holdings
• Broker Representatives: Brad Schlafer, Christopher (Chris) Hart, Shane Ozment & Terrance Hunt - CBRE

CBRE facilitated this transaction, demonstrating their involvement by representing both the buyer, ColRich Multifamily, and the seller, JRK Property Holdings. The brokerage played a key role in orchestrating the sale of the apartment community in a competitive market environment.