March 6, 2020
Watermark Residential ended its hold on Watermark on Union, selling the 244-unit pre-stabilized apartment complex in Colorado Springs, CO to NALS Apartment Homes of Santa Barbara, CA. The property sold for an undisclosed price, and has been renamed Aliso at Briargate.
Kevin McKenna and Saul Levy with NKF represented the Indianapolis-based seller in the transaction; the deal represents NALS’ second acquisition in Colorado Springs. “Watermark on Union was 65 percent occupied at the time of sale, demonstrating the buyer’s belief in their ability to fully stabilize the property in the coming months,” McKenna said.
The property at 9915 N. Union Blvd. is close to various employment and medical hubs. The complex offers one, two- and three-bedroom units. Community amenities include a clubhouse, resort-style pool with cabanas, firepit, fitness center, dog park and courtyards with barbecue grills.
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