Nashville-based Brickstone Partners recently acquired 288 units comprised of the Landmark and Stone Creek apartment communities adjacent to Colorado State University. The total investment was $81 million.
Brickstone will embark on a comprehensive upgrade of the circa-1986 properties. The communities include heated saltwater pools, club-quality fitness centers, dog parks and numerous outdoor spaces.
“The communities are some of the best-located student housing near CSU and we welcome the opportunity to upgrade these communities to better fit the active, energetic lifestyle of the neighborhood,” said Daniel Otis, founder and principal at Brickstone Partners. “Fort Collins has been featured as one of the best places to live in the country in numerous national publications for a reason – it’s an incredible place to live and to attend college. CSU continues to make strategic macro investments in their student body and campus. This strong continued investment has created notable growth both for the college and the community.”
Landmark and Stone Creek are just minutes from campus. Other nearby attractions are Canvas Stadium, North Campus West retail district, and the $313 million Foothills Mall anchored by H&M and Nordstrom Rack.
“This investment is a continuation of our core investment philosophy: to invest in opportunities that have asymmetric risk and reward, whereby generating opportunistic yields with less risk than normal,” says Otis.
Dan Woodward, David Potarf, Matthew Barnett and Jake Young of CBRE in Denver represented the seller, Summit Management Services, in the transaction.
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.