Northmarq Negotiates $33.5M Sale of Basecamp Apartments in Montrose, Colorado

MONTROSE, COLO. — Northmarq has arranged the forward sale of Basecamp Apartments in Montrose. Range Colorado sold the asset to Blueline Equity Partners for $33.5 million.

Slated to open this year, Basecamp Apartments will offer one- and two-bedroom floor plans, ranging from 719 square feet to 995 square feet. The units will feature stainless steel appliances, wine refrigerators, hard-surface countertops and a modern flooring and lighting package.

Alex Possick, Seth Gallman, Mark Jeffries and Jeff DeHarty of Northmarq’s Colorado Multifamily Investment Sales and Debt/Structured Finance team handled the transaction.