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September 1, 2017 Comments Off on FPA Multifamily Picks Up Colorado Asset for $47.5M Views: 1755 Colorado, National News, Southwest

FPA Multifamily Picks Up Colorado Asset for $47.5M

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San Francisco-based FPA Multifamily acquired River Glenn, a 300-unit value-add asset in Fort Collins, CO for $47.5-million. ARA Newmark’s Terrance Hunt, Shane Ozment, Doug Andrews and Jeff Hawks represented Ocwen Loan Servicing, LLC, the asset manager for the unnamed seller.

Constructed in 1985 and located at 2736 Raintree Dr., River Glenn is a five-minute drive from the second largest university in the state.

“Located in the heart of Fort Collins, River Glenn is proximate to both Colorado State University (CSU) and the Harmony employment corridor, the largest in Northern Colorado, making it a convenient student- and family-friendly community. It has maintained nearly full occupancy for the last five years, and is positioned for a value-add strategy in 82% of the units with immediate rent upside,” said Hunt.

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