Colorado Springs Multifamily Sale Largest in Town’s History

Hamilton Zanze has acquired the 264-unit Springs at Foothills Farm from Continental Properties Co., for $110.9 million, setting a record for the largest transaction in Colorado Springs history. Hamilton Zanze will execute a capital improvement plan that will include building, amenity and green upgrades. Management has been transitioned to Hamilton Zanze affiliate Mission Rock Residential, a Denver-based company that now manages 166 multifamily properties and more than 30,000 residential units across the U.S.

Berkadia Institutional Solutions arranged the sale on behalf of the Wisconsin-based seller and secured $58.1 million in permanent acquisition financing, a 10-year loan that was financed through Freddie Mac for the buyer.

Built in 2021, Springs at Foothills Farm has 12 two- and three-floor residential buildings. The garden-style, 276,276-square-foot property features studio, one-, two- and three-bedroom floorplans with an average of 1,047 square feet. Community amenities include a swimming pool, a fitness center, an outdoor barbeque area, on-site car maintenance center, a pet playground and a park.