Walker & Dunlop Completes Colorado Springs Multifamily Portfolio Sale
Walker & Dunlop has successfully completed the sale of two apartment communities, Viridian Edge at the Park and Western Hills, totaling 432 units in Colorado Springs, Colorado. This joint venture between Griffis/Blessing and Freshwater Investments was facilitated by Walker & Dunlop's team. The buyer, Birge & Held, aims to expand its portfolio to over 1,200 units in the area, capitalizing on the local real estate market's growth potential. In 2021, Walker & Dunlop achieved $19.3 billion in property sales volume, emphasizing its leadership in multifamily property sales.
- Successful sale of 432 apartment units enhances Walker & Dunlop's market presence.
- Birge & Held expanding portfolio to over 1,200 units demonstrates confidence in Colorado Springs' market.
- None.
DENVER, March 23, 2022 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it completed the sale of Viridian Edge at the Park and Western Hills, two value-add apartment communities totaling 432 units in Colorado Springs, Colorado. Colorado Springs is home to an educated workforce, attracted by a diverse set of industries, excellent schools, and surrounding nature.
A joint venture between Griffis/Blessing and Freshwater Investments owned Viridian Edge at the Park and Griffis/Blessing exclusively owned Western Hills. Walker & Dunlop's Dan Woodward, David Potarf, Matt Barnett, and Jake Young served as exclusive advisors to the owner, Griffis/Blessing. Following a competitive marketing process, the team facilitated the disposition of both properties to Birge & Held, the buyer.
"The Colorado Springs portfolio represents our commitment to conserving affordable housing on the Front Range and in the High Country," said Chris Brennan of Birge & Held. "We are excited that this expands our footprint to the community of Colorado Springs and our portfolio to 1,200 plus units. Our local partners and team members look forward to engaging with our new residents."
Mr. Young commented, "We were thrilled to offer the whole platform to our clients, including facilitating a quick closing with a unique capital structure. Both the buyer and seller were excellent partners throughout this process and were integral to the success of the transaction."
Located by the scenic Rocky Mountain front range, Viridian Edge at the Park is situated just ten minutes from the revitalized Downtown Colorado Springs, in the northern suburbs. Western Hills is located in the Southeast suburbs next to the Colorado Springs Airport, where Amazon recently constructed a four million square-foot distribution center that will employ more than 1,000 workers. Combining the best of both worlds, these properties provide access to major employment centers and proximity to downtown amenities while being surrounded by endless outdoor activities.
Walker & Dunlop is a leader in multifamily property sales, having completed
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop and play — to life. The power of our people, premier brand, and industry-leading technology make us more insightful and valuable to our clients, providing an unmatched experience every step of the way. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.
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