CREJ - Multifamily Properties Quarterly - October 2015
Purchasing an apartment building in Colorado has proven to be challenging due to the growing number of buyers lining up to acquire a limited number of available properties. For certain assets, it is not uncommon to receive upward of 20 offers. It’s not just local investors clamoring to purchase apartments; investors from outside Colorado represented 70 percent of purchases through August and 78 percent of purchases over the same period of 2014. Using data from CoStar, we reviewed apartment sales through the end of August for 2014 and 2015. We looked at transactions of $10 million and larger in Denver, Colorado Springs and Fort Collins, and the analysis revealed where buyers are coming from. This article explains the ripple effect created by the increase in buyers from across the country for Colorado properties.