VCM Announces the Sale of Summer Grove Apartments located in Colorado Springs, Colorado
25 June, 2019
June 25, 2019 – VCM is delighted to announce the sale of Summer Grove Apartments which resulted a deal-level IRR and equity multiple of 68% and 4.6x, respectively.
Purchased by VCM in April 2016, the property is located near one of the most prominent intersections in Colorado Springs, at the corner of Academy Boulevard and Austin Bluffs Parkway. This location has excellent visibility with more than 60,000 vehicles daily driving by the property. Academy Boulevard has consistently been the city’s most significant retail thoroughfare and Austin Bluffs Parkway is one of the primary roadways connecting the western and eastern portion of the city.