The complex is 100% occupied. Western Property Advisors, theseller, had been planning to sell the 15-building complex as soonas it had been fully leased. Monthly rents average $750 for aone-bedroom, $900 for larger bedroom units and $3,850 for astandard two-bedroom.
A residential moratorium in Longmont provides an entry barrierto competitors. Ute Creek Apartments LLC is co-managed by investorsMike Tracey and Roger Pomainville. The company searches forunder-valued properties where it can add value through bettermanagement.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
