ColRich Multifamily Acquires 248-Unit Courtney Park In Fort Collins From JRK Property Holdings For $64.1M
4470 S. Lemay Ave
$64,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 27, 2025
AI
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.
Players
Fort Collins MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93