An affiliate of The Axton Group and The Bascom Group has closed on the sale of two multifamily communities, Park at Penrose and Park at Palmer for $74.1 million. Park at Penrose with 374 units, and Park at Palmer with 112 units, are located at 3802 and 3903 Half Turn Road, in Colorado Springs, situated along N. Academy Boulevard near Austin Bluffs Parkway. These adjacent properties, formerly named Summer Grove and Tanglewood, are located in the Palmer submarket.

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