COLORADO SPRINGS, CO - CBRE Capital Markets’ Debt & Structured Finance has secured $16.5 million in acquisition financing for Lookout at Broadmoor Terrace, a 150-unit multifamily property in Colorado Springs, Colo.
CBRE’s Scott Peterson, Bill Chiles and Brian Cruz arranged the loan on behalf of the borrower, Stratford Partners, who purchased the property in an off-market transaction.
The three-building property was built in 1969 and features a mix of studios, one-, two- and three-bedroom units. Community amenities include a clubhouse, laundry center, pool and BBQ area. The seller, a private investor, recently invested over $3 million in exterior, common area and interior lighting improvements.
Located at 810-862 Oxford Lane, the property sits within two miles of several retail centers, large community parks and K-12 schools.
“This is a great investment for Stratford, who plans to continue with unit renovations and capital improvements that were begun in 2019 by the seller,” said Mr. Peterson.
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