Fort Collins apartment complexes sell for $64.5M

FORT COLLINS — A Tennessee-based property-management company purchased two multifamily apartment complexes in Fort Collins for a total of $64.5 million, CBRE Capital Markets announced in a news release. 

CBRE brokers Dan Woodward, David Potarf, Matthew Barnett and Jake Young represented the seller, Summit Management Services. The buyer, Brickstone Partners, Inc., is based in Franklin, Tennessee.

The properties include the 120-unit Landmark at 1050 Hobbit St. and the 160-unit Stone Creek at 1225 W. Prospect Road. Both properties were built in 1986. Brickstone will modernize and upgrade them, bringing the company’s total investment to $81 million, according to the news release.

“Landmark and…