CBRE Brokers $21.8 Million Sale of Copperleaf Place Apartments in Fort Collins

CBRE announced today the $21.825 million sale of the Copperleaf Place multifamily community located at 3425 South Shields Street in Fort Collins, Colo. Dan Woodward, David Potarf, Matthew Barnett and Jake Young with CBRE Capital Markets represented the seller, Brinkman, a real estate development and investment company. The buyer, Warm Springs Holdings, a private buyer from Calif., purchased the property in a sale that closed July 31, 2019.

“Fort Collins has been one of the best performing markets in the state of Colorado, driven by its high quality of life, CSU’s booming expansion, recent major corporate relocations and expansions, and the revitalization of Old Town Fort Collins. While the multifamily development pipeline is very active with nearly 1,000 rental units delivered in the last five years, the market continues to outperform with average occupancy north of 95 percent,” said Jake Young, First Vice President, CBRE.

Built in 2018, Copperleaf Place includes 94 units across three rental buildings on 2.82 acres. The property leased up quickly, reaching 75 percent occupancy in only four months and 96.8 percent occupancy at the time of sale. Community amenities include a clubhouse, 24-hour fitness center and a community dog park. The property also offers green features, such as LED community lighting, xeriscape landscaping, low-flow fixtures, electric vehicle charging stations and permeable pavement, which allows rain water to pass through and reach the ground below.

Copperleaf Place is located just south of downtown Fort Collins at the northwest corner of West Horsetooth Road and South Shields Street. Colorado State University and Old Town Fort Collins are less than two miles north.