Colorado Springs Apartment Community Sells for $17.25M

Regal Estates Apartments, a 150-unit community located at 105, 115, 125, 135, 145, 155 South Academy Blvd in Colorado Springs, has sold for $17.25 million.

Mike Krebsbach, senior advisor with Pinnacle Real Estate Advisors LLC, represented the Buyer, Hazel Grace LLC in the transaction.

“Our client is very excited about their acquisition of Regal Estates as it is a great addition to their rapidly expanding Colorado Springs apartment portfolio. They have numerous renovations planned for this asset to add significant value and increase cash flows,“ stated Senior Advisor Mike Krebsbach.

Photo courtesy of Pinnacle

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