Creekside at Palmer Park

January 10, 2019 Comments Off on Buchanan Street Snags Colorado Springs MF for $73M Views: 2075 Colorado, National News, Southwest

Buchanan Street Snags Colorado Springs MF for $73M

Newport Beach, CA-based Buchanan Street Partners closed the $72.5 million purchase of Creekside at Palmer Park, a Class A, 328-unit apartment project located in Colorado Springs, CO. It was Colorado Springs’ largest single property multifamily sale by number of units last year.

The 95%-occupied asset includes 16 buildings, totaling 325,700 rentable square feet on 19.71 acres. Creekside was originally built in 2003 by Griffis Blessing, which has owned and managed the property since the completion. Creekside is ideally-positioned along State Hwy 21 in the Powers Corridor, a major North-South thoroughfare providing access to nearby employment centers.

CBRE’s David Potarf and Jake Young represented Griffis Blessing in the transaction, while Buchanan Street was self-represented.

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