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CBRE has successfully facilitated the sale of Courtney Park, a 248-unit garden apartment community located in Fort Collins, Colorado. The property was purchased by ColRich Multifamily, a private investment and development firm, for $64.1 million.
The seller was represented by CBRE’s Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer.
Originally built in 1986 and updated by previous ownership in 2008 with renovations to the apartments themselves as well as common areas such as the clubhouse. The new owner plans to make additional improvements to further enhance the property’s performance. This is a smart move considering Fort Collins’ strong demand for rental properties and limited availability for new developments.
Courtney Park is situated at 4470 S Lemay Ave., featuring thirteen residential buildings with one- or two-bedroom floorplans spread across two or three floors each. Each unit includes its own private balcony or patio space. Community amenities include a clubhouse building with business center and fitness center; outdoor features like swimming pool & hot tub area; an outdoor grilling area perfect for entertaining guests; playgrounds ideal for families living on site; pet park so residents can enjoy quality time outdoors with their furry friends while staying close to home without having to travel far from their doorstep! Additionally there are ample parking spaces available totaling up-to four hundred forty-one spots making it easy & convenient when coming home after work!
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