Notable Sales

COMMONWEALTH

Holly Sugar Building

2 N Cascade Suite 1100

Colorado Springs, CO 80903

719-685--4300

NOTABLE APARTMENT SALES BY COMMONWEALTH BROKERS

GRAND RIVER CANYON – 440 UNITS

LARGEST SALE OF THE DECADE!

SECOND LARGEST SALE IN HISTORY!

http://kasinopanettguide.com/

REPRESENTED THE SELLER & BUYER

The complex had been listed with several large “national brokerage firms” for many months

without a sale, even though the market was experiencing a 4% vacancy. The www.nikehuarache.it project also had actual cash flow over $500,000.

However, none of these firms had a local Colorado Springs office or a presence with the local market that Commonwealth has built since 1975.

Commonwealth sold the project when the vacancy was 15% & the project had negative cash flow! The buyers were LOCAL INVESTOR CLIENTS since 1991.

They put approximately $5million down & qualified to assume a $30 million loan.

NEVER FORGET THAT REAL ESTATE IS A LOCAL MARKET!

WILDRIDGE APARTMENTS -

305 UNITS

RON SPRAGGINS, CCIM SOLD TO LOCAL INVESTOR. THE COMPLEX RESOLD TWO YEARS LATER FOR A $4 MILLION PROFIT!

SUNSET RIDGE APARTMENTS -

240 UNITS

JUST CLOSED FOR $21.6 MILLION, COMMONWEALTH WAS THE ONLY BROKERAGE FIRM INVOLVED.

Willows

WILLOWS at PRINTERS PARK-220 UNITS

LARGEST SALE FOR THE 3RD & 4TH QUARTER

The buyers were LOCAL INVESTOR CLIENTS of Commonwealth since 1991!

The complex had been listed with an OUT OF TOWN BROKER for many months without a sale!

None of the Denver or out of town firms have a local Colorado Springs office or a presence with the local market that Commonwealth has built since 1975.

NEVER FORGET THAT REAL ESTATE IS A LOCAL MARKET!

BROADMOOR VILLA APARTMENTS

102 UNITS - SOLD 3 TIMES

RON SPRAGGINS, CCIM HAS QUITE A HISTORY WITH THIS COMPLEX. RON WAS DIRECTOR OF MARKETING FOR THE BUILDER SCURR-MESSENGER & ASSOC. THAT WERE THE LARGEST BUILDERS IN COLORADO SPRINGS AT THAT TIME. WHEN RON LEFT THE FIRM & OPENED HIS OWN APARTMENT BROKERAGE FIRM, HIS LEFT WITH A LISTING ON THE BROADMOOR VILLA IN 1971! RON LATER JOINT VENTURED THE COMPLEX WITH ONE OF THE OLDEST COMMERCIAL BANKS, THE EXCHANGE NATIONAL BANK IN 1976. COMMONWEALTH DID THE PROPERTY MANAGEMENT DURING THE 5 YEAR HOLD. THE JV WAS SUCCESSFUL WITH SEVERAL MILLION IN PROFIT. HE THEN SOLD THE PROJECT FOR THE 3^RD TIME IN 1993 FOR $1,425,000. THE COMPLEX SOLD AGAIN IN 1997 FOR $3,650,000!

. . . AND OVER 100 MORE!!!

THE OASIS APARTMENTS – 252 LUXURY UNITS

COMMONWEALTH SOLD THE COMPLEX TO A LOCAL INVESTOR CLIENT SINCE THE MID 90’S.

The buyer resold the project one year later for a $2 million profit!

WINDMILL APARTMENTS - 304 UNITS

RON SPRAGGINS, CCIM SOLD TO LOCAL INVESTOR, COMPLEX RESOLD TWO YEARS LATER FOR A $5 MILLION PROFIT!

TANGLEWOOD/TIMBERLANE APARTMENTS - 260 UNITS

RON SPRAGGINS, CCIM SOLD TO LOCAL CLIENTS, PROPERTY SOLD FOR $6 MILLION & RESOLD FOR $11.9 MILLION TEN YEARS LATER!

WHISPERING PINES APARTMENTS 207 UNITS

GARDEN TERRACE APARTMENTS

196 UNITS

RON SPRAGGINS, CCIM SOLD TO THE CURRENT OWNERS FOR $4.2 MILLION. COMPLEX HAS A MARKET VALUE TODAY IN EXCESS OF $11 MILLION.

GLENPOOL APARTMENTS – 75 UNITS VOTED BEST APARTMENT DESIGN IN COLORADO SPRINGS. RON SPRAGGINS, CCIM SOLD TWICE. RON ALSO PURCHASED THE COMPLEX WITH A PARTNERSHIP MANAGED BY COMMONWEALTH. THE PARTNERSHIP DOUBLED THEIR MONEY.