July 27, 2012

Stamford investor reaps $90M in Colo. apts. sale

A Stamford investor sold four Colorado apartment complexes for $90 million to a Texas buyer in one of the Rocky Mountain state's biggest multi-family property deals in more than a half decade, The Denver Business Journal reports.

Archon Group LP, of Irving, Texas, bought a total of 1,164 units — with one complex in Aurora, one in Castle Rock and two in Colorado Springs -– from Five Mile Capital Partners LLC of Stamford, the paper reports Friday on its homepage, citing public documents.

The complexes sold were:

• 482-unit Waterfield Court, 3499 S. Uravan Way, Aurora, for $40.17 million.

• 186-unit Rolling Hills, 1129 S. Eaton Circle, Castle Rock, for $14.25 million.

• 216-unit Whispering Hills, 260 Rim View Drive, Colorado Springs, for $16.7 million.

• 280-unit Stone Ridge, 1844 Ralphs Ridge, Colorado Springs, for $18.87 million.

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