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Phoenix & Southwest  + Southwest  + Apartments  |  January 5, 2022
Trailbreak Partners Buys Eleven13
Lisa Brown
By: Lisa Brown

Fort Collins Investment Demand Continues to Grow

Eleven13 Apartments, a 107-unit garden-style multifamily property located in Fort Collins, recently sold for $24.7 million. The buyer was Colorado-based Trailbreak Partners.

Nick Steele, John Laratta, Tyler King and Nate Moyer of Berkadia Denver completed the sale on behalf of the seller, California-based Bridge Partners Inc.

“Eleven13 is a great asset,” said Steele. “The quality of real estate speaks for itself being located across the street from Colorado State University. Fort Collins is such a dynamic market. The interest from the investment community continues to grow with each subsequent engagement we work on there.”

Brian Huff, also of Berkadia Denver, secured a $20 million acquisition loan on behalf of the buyer. The three-year non-recourse loan from CorAmerica Capital LLC features a 75 percent loan-to-cost ratio, a 3.85 percent interest rate and an interest-only payment schedule.

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Inside The Story

Nick Steele

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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