The Money's in Colorado Springs
Looking for value-add multifamily in Colorado? Colorado Springs is the place, Transwestern SVP Tom Wanberg tells us. Rent growth has been moderate for the last few years, but with low vacancies and a narrow pipeline for new apartment construction, he expects that to change. “Next year’s going to be a good one for Colorado landlords,” he says. Tom, second from left, is flanked by colleagues Kevin Roberts, Stacey Brady and Craig Paton.
Recently Tom, along with Stacey and colleague John Blackshire, repped Blue Valley Apartments in its sale of the 210-unit Point of View apartments in Colorado Springs. The asset was purchased by a Denver-based investment group, repped by Radford Investment Properties. The property is in East Colorado Springs, near Peterson Air Force Base, a major employer in the area. Built in 1985, Point of View’s recent improvements include the addition of new roofs for all seven buildings earlier this year.