Rivendell Acquires 194-Unit Apartment Complex in Colorado Springs for $44.5M

Commons at Briargate was built in 1996. The property was 96 percent occupied at the time of sale.

Commons at Briargate was built in 1996. The property was 96 percent occupied at the time of sale.

COLORADO SPRINGS,COLO. — Rivendell Global Real Estate has acquired the 194-unit Commons at Briargate in Colorado Springs for $44.5 million. The community is located at 2845 Freewood Point.

Commons at Briargate was built in 1996. The property was 96 percent occupied at the time of sale. It is situated adjacent to the 2 million-square-foot Briargate Business Campus, which houses tenants like USAA, Kaiser Permanente and T.Rowe Price.

Kevin McKenna and Saul Levy of ARA Newmark represented Rivendell. The seller was a partnership between Lyon Living and Barings Real Estate Advisers.

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