Boulder County-based group pays $51.25M for Fort Collins apartment complex

FORT COLLINS — A joint venture led by Chris Geer of Superior-based Haven Capital and Eric Mallon of Boulder-based Heartwood Capital closed recently on the $51.25 million purchase of The Argyle at Willow Springs apartments in Fort Collins.

The purchase price came out to just more than $183,000 per unit for the 280-unit complex built in 1999.

Wisconsin-based MLG Capital is also an equity partner in the Argyle Acquisitions LLC entity that bought the property.

The seller in the off-market transaction was the family of the late Donald M. Culver of Boulder, who died in 2012. Culver had actually founded Haven Capital’s sister…