Buchanan Street Partners acquires multifamily community in Colorado

Buchanan Street Partners, a Newport Beach, California-based real estate investment management firm, has acquired a 240-unit, 2002 built, multifamily community in Colorado Springs, Colo., from Griffis Blessing. 

The Ridgepointe at Gleneagle property consists of 13 buildings on 15 acres of land and was 95 percent occupied at the time of acquisition. The community is located at the Northern end of Colorado Springs, which boasts some of the highest median income and home prices within the City coupled with one of the best schools in the state of Colorado. 

The purchase dovetails with Buchanan Street’s multifamily investment strategy focused on acquiring high-quality assets in markets with strong fundamentals. Colorado Springs as a whole has experienced tremendous growth, with a 65 percent population growth since 2000. It als