Griffis/Blessing Buys Colorado Springs Student Community
NorthMarq Capital provided the new owner of the 506-bed property with financing for the $34 million acquisition.
Premier Homes has sold Lion Village, a 506-bed student housing property in Colorado Springs, Colo. Griffis/Blessing acquired the asset for $34 million, according to public records, two months after its acquisition of a 45-unit senior community in Golden, Colo. NorthMarq Capital provided the buyer with acquisition financing.
Yardi Matrix shows that Griffis/Blessing managed the asset prior to its sale, which is the first transaction in the property’s history. Berkadia negotiated the deal on behalf of the seller.
The community is located at 5641 Red Ash Point on 21.5 acres near Interstate 25. The property is 1.5 miles from the University of Colorado at Colorado Springs and the University Village Colorado shopping center.
Built between 2017 and 2018, the community comprises 99 furnished townhouse units with two-, three- and four-bedroom floorplans, according to Yardi Matrix. Amenities include bicycle racks, a swimming pool, tanning beds and a business center.
The Berkadia team representing the seller included Senior Directors Nick Steele and John Laratta and Associate Directors Tyler King and Nate Moyer.