VCM Announces the Sale of Tanglewood Apartments located in Colorado Springs, Colorado
01 July, 2019
July 1, 2019 – VCM is delighted to announce the sale of Tanglewood Apartments which resulted a deal-level IRR and equity multiple of 24% and 1.8x, 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.