Nexus Commercial Realty has completed the sale of an eight-unit multifamily property in Fort Collins, Colo. An undisclosed buyer purchased the asset for roughly $1.1 million. Sean Holamon, investment advisor with Nexus, represented seller Harmony Premier Properties LLC in the transaction.
Located at 924 and 928 James Court, the property traded through a 1031-exchange deal. The buyer is planning to make upgrades in order to increase rent and continue to operate the asset as a college rental community. The sale also included four adjacent one-bedroom/one-bathroom units of approximately 600 square feet each.
The property is adjacent to Colorado State University and is a block away from Sonny Lubick Field at Canvas Stadium. Healthcare, dining and entertainment facilities are within walking distance, and the nearby Interstate 25 provides easy access to downtown Denver.
Recently, Nexus Commercial Realty arranged the $102.3 million sale of a seven-property portfolio in Colorado Springs, Colo. Most of the assets are spread across the Southern and Eastern parts of the city.
Image courtesy of Nexus Commercial Realty
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