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COLORADO SPRINGS, CO-A California investment firm has paid $7.2 million for the Woodstone Apartment complex in this city about 60 miles south of Denver. A California-based apartment syndicator, FSF Woodstone Associates, sold the 189-unit complex at 310 Crestone Lane to S2S.

”Older, well-located properties are still a hot commodity in Colorado,” says David Potarf, who sold the complex with fellow Marcus & Millichap brokers Dan Woodward and Kevin Higgins. ”At $38,000 per unit, the property was an attractive deal for the buyer.”

Woodstone was built in 1978 and was previously sold by Marcus & Millichap in 1996 for $4.5 million. The sales price equates to a 60% increase over five years.

With this sale, Potarf and Woodward have sold more than $285 million in properties in the past year or so.

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