238
DURANGO, COLO. — Trailbreak Partners, a Denver-based private equity firm, has purchased Confluence at Three Springs Apartments, located at 150 Confluence Ave. in Durango. GF Properties Group sold the asset for $35.2 million.
Built in 2016 and 2018, Confluence at Three Springs features 171 units in a mix of one- and two-bedroom apartments and three commercial tenants, including a Mexican restaurant, a yoga studio and a bridal boutique. Community amenities include direct hiking trail access, playground, outdoor cooking areas, seating and a resident lounge.
Josh Simon and Rob Bova of JLL Capital Markets worked on behalf of the buyer to secure a 10-year, fixed-rate loan through Freddie Mac.