California buyer, seller complete $66.5M Fort Collins apartment deal

FORT COLLINS — Two California multifamily property owners were the buyer and seller in the $66.5 million transfer of The Habitat at Fort Collins apartment community.

FPA5 River Glenn LLC sold the 300-unit complex to CH Habitat Communities LLC on Wednesday, Oct. 13, according to Larimer County property records.

The seller shares an Irvine, California, address with Trinity Property Consultants LLC, which according to its website owns dozens of properties in multiple states. Properties are branded under “The Social” for the student apartments, “Renew” for conventional multifamily and “Arrive” for luxury properties.

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According to its website, its properties in Fort Collins include “The Social” brand at Hobbit Street, West Lake Street and City Park Avenue, with monthly rents starting at just under $900 a bedroom for each of the three communities. Its conventional product in the city is its ReNew Foothills at 2155 Orchard Place, with rents starting at $1,600 for two bedrooms.

It has one apartment community each under its ReNew and Arrive brands in Denver. ReNew on Stout is at 1531 Stout Drive. The Arrive 800 Penn community is at 800 Pennsylvania Ave. Arrive, Trinity’s luxe complex, starts north of $1,600 for one bedroom. 

The unbranded Habitat was built in 1986. It’s at 2736 Raintree Drive near the intersection of South Shields Street and West Drake Road. Its website lists amenities including high-speed internet, a business center, package lockers and a spa.

Buyer CH Habitat Communities shares a San Diego address with ColRich California Realty Inc. Colrich also buys, develops and owns multifamily communities. It has also built single-family homes, retail and office projects, medical buildings and hotels. The company was founded by three friends who moved to Southern California from South Africa in the 1970s, its website said.

Second-generation family members now lead the company, which has worked with private equity firms on new development groups and individual projects. 

According to its multifamily operations website, it owns about 5,100 units across six cities in Colorado: nine in Denver, three in Westminster, two in Lakewood and one apiece in Englewood, Arvada and Fort Collins.

Its other Fort Collins property is the 182-unit Heritage Park complex about a mile from The Habitat.

Requests for comment to both buyer and seller weren’t immediately returned.

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