This article originally appeared in Connect Media.
September 16, 2020
Newport Beach, CA-based Buchanan Street Partners acquired The Vibe Apartments, a 276-unit multifamily community in Fort Collins, CO from Milestone Development Group for $74 million. The acquisition solidifies Buchanan’s presence in Colorado with four assets spread across the Front Range.
Built in 2018, the property consists of 12 buildings, on 10 acres and was 93% occupied at the time of sale. The community is located at the south end of Fort Collins, a rapidly growing area, and near the largest concentration of employment centers in Northern Colorado.
Buchanan plans to implement modest operational changes to The Vibe and position it as a stabilized core asset to benefit from the positive submarket fundamentals and long-term forecasted growth.