Colorado Real Estate Journal - January 3, 2018
A high-rise apartment property in Colorado Springs sold to a New York-based buyer for $9 million. Emerald Towers, a 73-unit apartment building at 107 W. Cheyenne Road, was a highly sought-after asset with more than 20 bids received on the building. Greg Price, a senior director of Marcus & Millichap’s National Multi Housing Group, represented the seller, a private investor. He also procured the buyer. Acclaimed developer Roland Wilson constructed Emerald Towers in 1967. The Broadmoor area apartment building features seven floors, in addition to a basement and rooftop. Emerald Towers features a mix of studio, one- and two-bedroom units, each with large, private balconies. Amenities include an Olympic-sized swimming pool and a large courtyard area. The buyer plans to upgrade units and all the common areas.