COLORADO SPRINGS, Colo. – April 23, 2021 – Berkadia today announced the $80 million in combined sales of Quail Cove and Highland Park, two garden-style multifamily properties located in Colorado Springs, Colorado. Director Winston Black of Berkadia’s Colorado Springs and El Paso, Texas offices, and Frank Farrell of Farrell Real Estate, Denver, along with Berkadia Senior Directors Nick Steele and John Laratta, Director Tyler King and Associate Director Nate Moyer of Berkadia’s Denver office, completed both sales on behalf of their seller, Delaware-based MBKS Inc. The buyer was California-based Trion Properties, and both deals closed on April 6.
Quail Cove is a 200-unit property located at 3308 Quail Lake Road and features one- and two-bedroom floor plans with walk-in closets. Community amenities include a swimming pool, a fitness center, laundry facilities, a community room, an outdoor picnic area and hiking and biking trails. Residents are afforded convenient access to Interstate 25 and the shops and restaurants in downtown Colorado Springs.
Highland Park is located at 4815 Garden Ranch Drive. The 206-unit property features one- and two-bedroom floor plans with community amenities such as a fitness center, a swimming pool, a business center, a clubhouse and a courtyard. Residents are afforded convenient access to the shops and restaurants along N Academy Boulevard and Pulpit Rock Park.