The Colorado Springs apartment market is making a strong comeback, as shown by recent sales and new construction starts. Major investors from out of the area have recently purchased large multifamily properties in Colorado Springs. In October, Sequoia Property Partners of New York closed on the South Circle Arms, a 112-unit apartment complex built in [...]
Browsing Posts tagged Fort Carson
For the eighth quarter in a row, the vacancy rate in Colorado Springs has gone down, this time to 5.8%. The last time it was this low was in the third quarter of 2001 when it was at 5.4%. As you’d expect, when the vacancy rate drops, the average rent goes up. Last year the [...]
According to a report released last week by the Apartment Association of Southern Colorado and the Colorado Department of Local Affairs’ Division of Housing, the first quarter’s rate of 6.9% is the lowest vacancy rate recorded since the third quarter of 2001 when vacancies were 5.4%. The very next quarter of 2001 saw the vacancy [...]
The Bellaire Apartments recently sold to Capital Real Estate of Denver for $19 million. Since it’s a 240 unit community, the price per door was just over $79K, well below the current estimated replacement cost of $120 per unit. Located in the southeast part of the city, it’s strategically placed between Fort Carson and Peterson [...]
Yesterday, Vectra Bank gave us the Colorado Springs version of their traveling show. Featuring two prominent PhD. economists, it was both educational and entertaining. Offering a free breakfast buffet at the Cheyenne Mountain Conference Center guaranteed a full house for the 7:30 start. George Feiger spoke first. He is a former Stanford associate professor who [...]
