COLORADO SPRINGS, CO – January 10, 2019 – Berkadia today announced the sale of Lion Village, a 506-bed student housing development in Colorado Springs, Colorado. Senior Directors Nick Steele and John Laratta and Associate Directors Tyler King and Nate Moyer of Berkadia’s Denver office completed the $34 million sale on behalf of the seller, a local developer.
“Lion Village is a beautiful, newly built property situated near the fastest growing university in Colorado, offering convenient, townhome-style student living in a picturesque location,” said Steele. “The seller saw an opportunity to address an unmet need in a high performing apartment market with consistent growth. With this sale, they’ve capitalized on that vision, while creating the opportunity for the buyer to see value well into the future.”
Lion Village is one of only five purpose-built student housing properties near the University of Colorado at Colorado Springs (UCCS). Located at 5641 Red Ash Point, it is within biking distance to UCCS and the University Village Colorado Shopping Center, Colorado Springs’ premier retail destination. Community amenities include bike racks, a fitness center, a swimming pool, tanning beds and a business center.