Apartment Complex Sells for Routt County Record Price
STEAMBOAT SPRINGS – SkiView Place, a Steamboat Springs apartment project, recently sold for a Routt County record price of $9,050,000 ($215,476 per unit). The project was purchased by Tralee Capital Partners, from developer, Brinkman and ownership partner Woodbury Strategic Partners.
The 34,000-square-foot, two-building project includes 42-units and sits on a 1.1 acre site. Upon opening in 2015, SkiView represented the first new for-rent apartments in the ski town since the economic downturn.
Brinkman is a mission-driven real estate development and investment company headquartered in Fort Collins’s. The company’s development and investment portfolio includes multi-family, mixed-use, hospitality, retail and office projects throughout Colorado.
In 2015, the company’s Plaza on Broadway student housing project across from the University of Colorado campus in Boulder sold for a record $24.05 million ($616,667 per unit and approximately $474 per square foot).
“We are focused on finding niche projects in areas with high barriers to entry. This approach has led to a geographically diverse portfolio that fulfills market demands within each area,” said Brinkman Co-Founder and Chief Executive Officer Kevin Brinkman. “These projects aren’t always the easiest, but through creative deal structuring, they have proven to provide strong returns to our investors.”
Brinkman’s current projects include The Foundry, a $75 million Public-Private Partnership in downtown Loveland, Union Pointe, a HUD-financed 256-unit apartment project in Longmont and a proposed $70 million mixed-use project in Midtown Fort Collins.