Colorado

THORNTON, COLO. — Pathfinder Partners has acquired the 140-unit Quail Ridge Apartments in Thornton for $22 million. The community is located at 501 E. 102nd Ave. Pathfinder plans to renovate and rebrand the community, as well as upgrade its amenity package. Built in 1985, Quail Ridge is situated on 6.2 acres. The community includes a one-story leasing office and clubhouse, along with a variety of amenities, including covered parking, swimming pool, spa, business center, basketball court and fitness center. Shane Ozment and Terrance Hunt of ARA Newmark brokered the transaction. Brian Eisendrath and Cameron Chalfant of CBRE Capital Markets arranged debt financing.

COLORADO SPRINGS, COLO. — Griffis/Blessing has purchased the 152-unit Western Hills apartments in Colorado Springs for $21 million. The community is located at 810 Western Drive. The site is near the Colorado Springs Airport in an area seeing more than $100 million in new development. Community amenities include a clubhouse, business center, 24-hour fitness center, heated outdoor pool, playground, basketball court and café/lounge area. Prior to the sale, Western Hills had begun capital improvements, including replacement of windows, appliances, countertops, cabinets, flooring and landscaping. CBRE’s Dan Woodward, David Potarf, Matt Barnett and Jake Young, along with Colorado Multifamily Investment Properties, represented the seller, Evergreen Real Estate, in this transaction. Brady O’Donnell of CBRE Capital Markets, Debt & Structured Finance arranged the FMAC financing.

DENVER — An unnamed buyer has purchased a 41-unit apartment community in Denver for $6.6 million. The community is located at 2920 W. 32nd Ave. in the Highlands neighborhood. The asset is fully occupied. Josh Newell of the Newell Team represented the buyer in a 1031 exchange that swapped a stabilized asset for this value-add opportunity. Jeff Johnson of Pinnacle Real Estate Advisors’ Johnson Ritter Team represented the seller in this transaction.

COLORADO SPRINGS, COLO. — Pride Rock has acquired The Preserve at Hidden Creek, an apartment community in Colorado Springs, for an undisclosed sum. The 240-unit community is located at 5910 Vista Ridge Point. The Preserve was built in 1996. Many of the units have been recently upgraded with vinyl plank flooring, new appliances and refinished countertops. Community amenities include a clubhouse, fitness center, pool, hot tub, barbecue grilling station, fire pit and more than 480 parking spaces. The low-density, garden-style community is adjacent to the Sunset Mesa open space with access to trails and recreation. CBRE’s Dan Woodward, David Potarf, Matt Barnett and Jake Young represented the seller, Griffis Blessing, in this transaction.