601 Chestnut LLC Plans to Reposition Chestnut Square via Extensive Reno

Chestnut Square Apartments, a 116-unit multifamily property located at 601 Chestnut St. in Windsor, CO, recently sold for an undisclosed purchase price. The location is approximately 15 miles outside of Fort Collins in northern Colorado.

601 Chestnut LLC acquired the property from the Jones Family Trust and plans to reposition the property through an extensive renovation program including unit and building upgrades, improved amenities, and updates throughout the campus.

Jared Goodman and Brian Mannlein with Cushman & Wakefield represented the seller in the transaction.

“Chestnut Square was a great opportunity to acquire a value-add apartment property situated in a desirable neighborhood with a lot of upside potential. We received tremendous investor interest in this asset with multiple offers from around the country,” said Goodman.

Chestnut Square Apartments is situated on 6 acres, and consists of one-, two- and three-bedroom units. Originally constructed in 1972, the property most recently underwent a multi-million-dollar capital renovation in 2008.

“The buyer’s renovation plan will elevate the property’s appeal for current and prospective tenants, and overall market position while also helping to fulfill the demand for modern amenitized multifamily space in Windsor, one of the fastest-growing communities in northern Colorado,” adds Mannlein.