CBRE Facilitates 459-Unit Portfolio Sale in Fort Collins
FORT COLLINS — CBRE has secured the sale of the Ram’s Portfolio, a collection of six properties consisting of student/conventional housing, comprising 459 units in three different locations throughout the Fort Collins area. Representing the seller, Summit Management, the CBRE team completed the transaction with buyer FPA Multifamily, LLC.
David Potarf, Dan Woodward, Matthew Barnett and Jake Young of CBRE’s Multifamily group represented the seller of the properties, which are located near the Colorado State University campus and the new football stadium.
“The 459-unit portfolio provides prospective tenants three different locations close to Colorado State University,” said David Potarf, executive vice president at CBRE’s Denver office.
The properties include a diverse array of amenities including pools, fitness centers and storage and select units have private balconies, attached parking, fireplaces and hot tubs. The portfolio includes properties with construction completion dates ranging from 1967 to 2013.
The buyer is an affiliate of San Fransisco-based FPA Multifamily, LLC, a private equity real estate firm focused on the acquisition, renovation and management of both core plus and work force housing apartment communities. Founded in 1985, FPA has owned more than 113,000 apartment units valued at over $12.8 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VI which will acquire approximately $1.8 billion of assets and its core plus focused FPA Core Plus Fund IV which will acquire approximately $1.4 billion of assets.
Photo courtesy of CBRE