Calif.-based investment firm pays $47M for apartments in FoCo
FORT COLLINS — The Arbors at Sweetgrass Apartments in Fort Collins has been sold to a real estate investment firm based in Truckee, Calif.
OpenPath Investments paid $47 million, or $181,000 per unit, for the 259-unit apartment complex on 25 acres at 1720 Kirkwood Ave.
OpenPath, led by founder and managing member Peter Slaugh, acquired the property from Akron, Ohio-based developers Edward Newman and Herbert Newman. The Newmans purchased the apartment complex in 2012 for $30 million and had been managing it through their firm, Summit Management Services Inc.
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The apartment complex’s amenities include a resort-style swimming pool, 24-hour fitness center and clubhouse, racquetball, basketball and tennis courts, business center and scenic walking trails.
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FORT COLLINS — The Arbors at Sweetgrass Apartments in Fort Collins has been sold to a real estate investment firm based in Truckee, Calif.
OpenPath Investments paid $47 million, or $181,000 per unit, for the 259-unit apartment complex on 25 acres at 1720 Kirkwood Ave.
OpenPath, led by founder and managing member Peter Slaugh, acquired the property from Akron, Ohio-based developers Edward Newman and Herbert…
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