San Francisco-based Hamilton Zanze has acquired the Bella Springs apartment community in Colorado Springs for $71M.
Built in 2001, the 364-unit complex at 1050 Milano Point has a mix of one-, two- and three-bedroom floor plans averaging 855 SF. Amenities include covered parking, two swimming pools, a fitness center and a clubhouse and coffee lounge.
“Bella Springs combines a quality location with strong surrounding demographics and healthy historical fundamentals,” said CBRE Capital Markets’ Colorado Multifamily Investment Properties Vice President Jake Young, who represented seller Praedium Group of New York. “The property has been well-maintained by high-quality owners for more than a decade, while the ability to add value through unit upgrades is readily available.”
Bella Springs is in the North Gate neighborhood near Polaris Pointe, one of Colorado Springs’ newest mixed-use developments with more than 50 shopping, dining and entertainment retailers.