DENVER — May 26, 2021 — Berkadia announced today the $101 million sale of Bucking Horse, a 322-unit garden-style multifamily property located in Fort Collins, Colorado. Senior Directors John Laratta and Nick Steele, Director Tyler King and Associate Director Nate Moyer of Berkadia Denver completed the sale on behalf of the seller, Colorado-based Bucking Horse Apartments, LLC., and the buyer, Pennsylvania-based Equus Capital Partners, Ltd. The deal closed on May 25.
“Bucking Horse was a highly sought-after apartment development that commanded the highest price per unit ever paid in the Fort Collins/Northern Colorado market for a traditional market rate deal,” said Laratta. “Only a few high-end student housing developments have topped $310K per unit in recent years. Even at these prices, we have multiple investment groups with a big appetite for more product.”
Located at 2274 Yearling Drive, Bucking Horse features one-, two- and three-bedroom open-concept floor plans with LVP flooring, quartz countertops, kitchen islands and oversized windows. Built in 2018, community amenities include a clubhouse, community gardens, a resort style swimming pool, spa, a gas firepit and outdoor grilling stations. The property affords convenient access to Colorado State University, Interstate 25 and local nature trails.