NBS REAL ESTATE CAPITAL CLOSES $5M ACQUISITION LOAN
COLORADO SPRINGS, COLO. — NBS Real Estate Capital has closed a $5 million preferred-equity investment in the entity purchasing the Sagebrook Apartments, a 314-unit multifamily complex in Colorado Springs. Located within the Briargate master-planned community, the property was constructed in 2001. Along with a senior mortgage from Freddie Mac and equity from a fund sponsored by the Griffis Group of Denver, the preferred equity will be used for the acquisition and renovation of the property. NBS Real Estate Capital, on behalf of Morrison Street series of funds, invests in direct value-added equity transactions and secondary financings including mezzanine debt, bridge loans and preferred equity.