AMA Key Beacon is pleased to present Mountain Oaks and Fountain Pointe, two class B Multifamily properties within 5 minutes of downtown Colorado Springs, CO, acquired at a basis of $107k/ unit. Recent comparable sales (trailing 24 months) average of $149k/unit for similar footage, vintage, class and quality of build.
Colorado Springs population has grown 17.2% over the last decade, outpacing Denver (14.2%), and well outpacing the national average (7.4%).
There is a drop in new construction starts for market rate properties in the market (most recent 2024 data) with low accompanying projected deliveries over the next three years (2025-2027), anticipated to cause upward pressure in rents, and a simultaneous boost in occupancy across the greater Colorado Springs market.
The GP team currently owns 186 units in Colorado Springs, while managing an additional 660 units in the (combined) Colorado Springs and Denver markets.
With reduced capital improvement costs by leveraging the expertise of a member of GP team, we are directly managing construction at cost, to ensure efficiency, and simultaneously maximizing investor returns and protecting capital.
There is a clear path of refinance (24-36 months) at $179k/ unit, returning 100% of investor capital at that time (2027/2028). We have exit projections of the property at $24.7MM (or $190k/ unit in 2029-2030), conservatively underwritten 25-50 bps above future market cap rate projection.
Project returns (IRR) of 33.96%
Ready to Ask For Funding for your company?
Post a Funding Request