Cushman & Wakefield has announced the sale of Rams Park Apartments, a 48 unit, 120 bed student housing property next to Colorado State University (CSU) at 2226 West Elizabeth Street in Fort Collins, Colorado, according to Steve Schwab, Managing Principal of Colorado. The property sold on September 18, 2017, to a private partnership for $12,200,000.
Brian Mannlein, Director in the Capital Markets Team with Cushman & Wakefield’s Fort Collins office, along with Matt Zeman with Zeman Realty Partners had the exclusive listing to sell the property on behalf of a Colorado-based limited liability company.
“Rams Park Apartments is an extremely well-located student housing property built in 2002 with a great reputation around campus for being very well managed,” said Mannlein. “The asset garnered significant interest from parties from all over the country. Investors were ultimately attracted to the property due to the strength of Fort Collins and CSU, along with the quality of the asset and many amenities and transportation options immediately adjacent to the property.”
Rams Park Apartments was 100% leased at the time of sale. The property is located approximately a mile west of the CSU campus and adjacent to restaurants, grocery, night life and the Elizabeth Street Enhanced Transportation Corridor.