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Lowell Weber
Apartments
810-820 S Weber Street
Colorado Springs, CO 80903
Quick Stats
59
UNITS
2023
YEAR BUILT
669
Avg SF
The Opportunity
Delivering in 2023, the Lowell – Weber Apartments is a three-story walk-up community boasting 59 luxury units, comprised of one- and two-bedroom floor plans.
Located in picturesque Colorado Springs, Colorado and ranking #2 in U.S. News Best Places to Live in 2022-2023. Colorado Springs offers unrivaled recreation, premier shops and restaurants, and numerous entertainment opportunities. Lowell – Weber Apartments benefits from its premier location in downtown Colorado Springs, which has been ranked as one of the fastest growing cities in the nation and has become an epicenter for job growth. The city is home to leading defense companies, technology companies, three major universities, and five major hospitals. This property is a unique opportunity for an investor to own a core asset in a premier location with vast potential.
Weidner Field & US Olympic Museum
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Desirable Downtown Colorado Springs Location
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Ample Parking and Garage Space
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New Construction with Expected 2023 YOC
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Pre-TCO Opportunity Zone Investment
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Investment Highlights
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Walking distance to the brand-new soccer stadium Weidner Field. Weidner Field is home to the tier 2 professional soccer club the Colorado Springs Switchbacks and also hosts events and concerts. Walking distance to the new US Olympic and Paralympic Museum.
Investment Highlights
Weidner Field & US Olympic Museum
LOCATION
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Brian Huff
Managing Director
303.689.8324
Brian.huff@berkadia.com
1331 17th Street
10th Floor
Denver, CO 80202
Mortgage Bankers:
Denver Office
Nick Steele
Managing Director
303.689.8306
nick.steele@berkadia.com
Tyler King
Director
303.607.0847
tyler.king@berkadia.com
Nate Moyer
Director
303.689.8320
nate.moyer@berkadia.com
Investment Advisors:
CONTACT Info
Jay O’Sullivan
JRO Land Company
President
719.362.6795
Jay@jrolandco.com
Jack Mason
Mason Land Solutions
President
719.332.2556
Jack@masonlandsol.com
Phone: 303.689.8312
Fax: 303.689.8352
Photo GALLERY
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Walk Score of 71 (most errands can be accomplished on foot) with numerous bars, restaurants, and retail options. Walking distance to 4.9M total square feet of occupied office space supporting 26K jobs.
Investment Highlights
Desirable Downtown Colorado Springs Location
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The property has 1.73 parking ratio with 102 total spaces including 10 two car tuck under garages, 12 one car tuck under garages, and 69 surface spaces.
Investment Highlights
Ample Parking and Garage Space
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The property is currently under construction with the first building expected to deliver in June/July with the second building to deliver in the third quarter of 2023.
Investment Highlights
New Construction with Expected 2023 YOC
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Profits from the sale of an asset that are invested in a Qualified Opportunity Fund (QOF) within 180 days from the transaction date have capital gains taxes fully deferred through December 31, 2026. If the investor holds the investment in the QOF for at least 10 years, the investor is eligible to elect to adjust the basis of the QOF investment to its fair market value on the date that the QOF investment is sold or exchanged. Acquiring the property with reinvested gains prior to placing the asset in service (reception of the temporary certificate of occupancy) and holding the property for a minimum of ten years will step-up the basis of the property to fair market value upon disposition.
Investment Highlights
Pre-TCO Opportunity Zone Investment
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Walk Score of 71 (most errands can be accomplished on foot) with numerous bars, restaurants, and retail options. Walking distance to 4.9M total square feet of occupied office space supporting 26K jobs.
Investment Highlights
Desirable Downtown Colorado Springs Location
04
The property has 1.73 parking ratio with 102 total spaces including 10 two car tuck under garages, 12 one car tuck under garages, and 69 surface spaces.
Investment Highlights
Ample Parking and
Garage Space
03
The property is currently under construction with the first building expected to deliver in June/July with the second building to deliver in the third quarter of 2023.
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Investment Highlights
New Construction with Expected 2023 YOC
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Profits from the sale of an asset that are invested in a Qualified Opportunity Fund (QOF) within 180 days from the transaction date have capital gains taxes fully deferred through December 31, 2026. Gains from investments held in a QOF for at least ten years are excluded from the capital gains tax. Acquiring the property with reinvested gains prior to placing the asset in service (reception of the temporary certificate of occupancy) and holding the property for a minimum of ten years will eliminate capital gains taxes on the reinvested gains.
Investment Highlights
Pre-TCO Opportunity Zone Investment:
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Strong Submarket Fundamentals
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Through 4th quarter of 2022, year over year rent growth in downtown Colorado Springs is over 8%, outpacing market wide rent growth of 6.5%. The downtown Colorado Springs submarket has the highest average rent per square foot at a $1.96, outpacing the market wide average of $1.78. Class A rents in the submarket are the highest in the market with an average rent/sf of $2.72.
Investment Highlights
Strong Submarket Fundamentals
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Strong Submarket Fundamentals
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Within five miles of Lowell Weber Apartments residents can find themselves at the base of the Colorado Rockies and multiple national and state parks.
Lowell Weber Apartments are a short drive from Old Colorado City and Manitou Springs which host historic buildings, popular boutiques, famous restaurants, and the Manitou Incline hike which brings in 70,000 annual visitors to try and complete the daunting hike at the base of Colorado’s famous Pikes Peak.
Convenient to Lowell Weber is the South Shooks Run Park as well as Memorial Park. Combined, these offer miles of running, walking, and biking trails, a tennis center, baseball/softball fields, football fields, soccer fields, and even a lake where residents can swim or paddle board in the summer.
The most popular park only 4.5 miles from the community is Garden of the Gods which attracts 6 million visitors per year from all 50 states and over 60 countries.
Investment Highlights
Premier Access to world-class Recreation
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Strong Submarket Fundamentals
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Walking distance to the brand-new soccer stadium Weidner Field. Weidner Field is home to the tier 2 professional soccer club the Colorado Springs Switchbacks and also hosts events and concerts. Walking distance to the new US Olympic and Paralympic Museum.
Investment Highlights
Weidner Field & US Olympic Museum
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Photo GALLERY
Photo GALLERY