Colorado Real Estate Journal - September 16, 2015
A 236-unit apartment community on Pueblo’s growing north side recently sold for $28 million. The Landings at Eagleridge, a Class A community at 4749 Eagleridge Circle, was purchased by a family ownership group. H.E. Whitlock built and owned the community, which was constructed in two phases in 2002 (140 units) and 2008 (96 units). The gated community features 84 one-bedroom, one-bath units that range from 803 to 816 square feet, 112 two-bedroom, two-bath units from 1,078 to 1,102 sf and 40 three-bedroom, two-bath units of 1,217 to 1,273 sf. The Landings at Eagleridge also includes 124 enclosed garages, lighted full basketball court, lighted tennis courts, volleyball court, heated swimming pool, hot tub, fitness center, business center, movie theater and clubhouse. Additionally, the community is located in a quality location in the fast-growing north side of Pueblo near the Dillon Drive interchange project, according to Ron Spraggins of Commonwealth. Spraggins, along with Shane and Ryan Spraggins, represented both sides in the transaction. Commonwealth also recently released its apartment sales report for Colorado Springs’ second quarter, in which 12 communities with 30-plus units sold for a total sales volume of $214 million. Two Class A communities, totaling 508 units, sold for $82.05 million at an average price per unit of $161,516. The 194-unit Commons at Briargate commanded a record high price of $171,649 per unit, the report noted. During the second quarter, three Class B sales totaling $72 million and 748 units closed. The average price per unit was $96,257 and $123 per sf. Additionally, two Class C communities sold for $32.66 million while Class D saw six communities totaling 470 units sell for $27.45 million.