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Seagate Sells 220-Unit Newport Village
Seagate Properties, based in California, ended its three-year hold on the 220-unit Newport Village complex in Thornton, CO by selling it for $34.5 million to Redwood Capital Group of Chicago. The 220-unit, three-story multifamily complex is at 8901 Colorado Blvd. The seller acquired Newport Village in 2013 for $21 million.
Newport Village was built in the late 1980s, and offers one- and two-bedroom apartments and townhouses. The average rental rate was $1.56 per square foot. The listing brokers were Pamela Koster and David Martin, both with Moran and Co.
- ◦Financing
- ◦Sale/Acquisition
