Equus Acquires Multi-Family Community in Fort Collins
Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading real estate investment managers, announced today that an affiliate has acquired Bucking Horse Apartments, a 98 percent occupied, 322-unit Class A apartment community located in Fort Collins. The acquisition was made on behalf of Equus Investment Partnership XI, L.P. (“Fund XI”), a fully discretionary $387.8 million equity fund managed by Equus. Madison Apartment Group, L.P. (“Madison”), the multi-family operating arm of Equus, will manage the community.
Bucking Horse Apartments is located at the intersection of Yearling Drive and Miles House Avenue within the larger Bucking Horse neighborhood in eastern Fort Collins. The apartment community was built in 2018, and boasts a mix of one, two, and three-bedroom apartment homes. The average unit size is a generous 1,001 square feet.
“The Fort Collins market is experiencing strong rental demand and population growth due to an expanding job market and a favorable lifestyle. These positive attributes are an integral part of our strategy to focus on high growth secondary markets,” commented Brant Glomb, vice president of acquisitions for Equus, who oversaw the transaction for the firm. “With its recent construction and Class-A finishes and amenities, Bucking Horse is well-positioned at the high end of the Fort Collins apartment market.”
Amenities at the property include the Ranch House Community Clubhouse featuring a chef inspired demonstration kitchen, fireplace lounge area, movie theatre and state-of-the-art fitness center and yoga studio with weight training and cardio stations. Outdoor amenities include a resort-style pool and spa.
John Laratta and Nick Steele of Berkadia represented the seller, an affiliate of Bellisimo, Inc. Jeremy Lynch and Mike Koller of Berkadia assisted Laura Brestelli, vice president of Equus on the acquisition financing efforts.
Photo courtesy of Equus