Fort Collins Townhome Community Trades for $390K/Unit

Granite Capital Group offloaded the Enclave Rigden Farm, a 105-unit, townhome-style multifamily property in Fort Collins, for $40.8 million. That comes out to nearly $390,000 a unit. Avanti Residential was the buyer. Robert Bratley, Jack Sanders, Mike Grippi and Pamela Koster of Berkadia Denver led the transaction on behalf of Granite.

The property was 95% occupied at the time of the sale.

Located at 2758 Iowa Drive, the property affords convenient access to Fort Collins MSA. Enclave Rigden Farm was built in 2007 and features 105 townhomes with direct access to car garages and private patios. The townhomes consist of 2- and 3-bedroom units ranging from 1,120 to 1,407 square feet, renting from $2,333 to $2,774.

Fort Collins in home to Colorado State University.

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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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