THE Opportunity
Berkadia is pleased to present the exclusive listing of Outlook Briargate, a recently stabilized, Class A, 300-unit apartment community located in the desirable Briargate submarket of northern Colorado Springs. Several of the metro’s largest private employers are located within five minutes of Outlook Briargate, and its infill location limits supply in the immediate area, making it a compelling investment for long-term rent growth. Outlook Briargate boasts high-end interior finishes, a resort-style pool and spa, outdoor kitchen with seating area, and unparalleled views of Pikes Peak. Nearly 5.7 million square feet of high-end retail are within two miles of Outlook Briargate, including Whole Foods directly across the street and Promenade Shops at Briargate, which features high-end stores such as Apple, Lululemon, and Pottery Barn. Outlook Briargate also draws demand from Colorado Springs’ highest concentration of private employers in the Briargate and North Gate areas, with companies as Lockheed Martin, Northrop Grumman, USAA, T. Rowe Price, and Oracle less than a 10-minute drive from the property. Colorado Springs has experienced impressive growth over the several years as the economy has diversified and its high quality of life continues to attract people to the Pikes Peak region. Population has increased over 20% since 2010 and median household income has increased 37% during the same period. Rents have increased nearly 27%, or 5.4% annually, over the past five years. Combined with the fact that only three communities are under construction within a three-mile radius, all of these highlights make Outlook Briargate a prime opportunity to capitalize on an enviable location with limited future supply by investing in a market-leading, high-quality asset.
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 company business in Nevada.
© 2024 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Denver Office
1331 17th Street
10th Floor
Denver, CO 80202
Phone: 303.689.8312
Fax: 303.689.8352
Investment Advisors:
Mortgage Bankers:
Christopher Ellis
Senior Managing Director
303.689.8317
christopher.ellis@berkadia.com
Brian Huff
Managing Director
303.689.8314
brian.huff@berkadia.com
Pam Koster
Senior Managing Director 303.689.8335 pamela.koster@berkadia.com
Mike Grippi
Senior Managing Director 303.689.8330 mike.grippi@berkadia.com
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300 UNITS | NEW CONSTRUCTION | CLASS A PRODUCT
7940 Brayden Point | Colorado Springs, CO
RANKED BEST PLACE TO LIVE Colorado Springs is ranked by U.S. News & World Report as the 3rd best Place to Live in the U.S. in 2024 and #1 in Colorado.
INVESTMENT Highlights
7940 Brayden Pt. Colorado Springs, CO 80920 El Paso 2023 Two and Three 300 One Freestanding Clubhouse 13 Residential Buildings 4, two-story Carriage House buildings 9, three-story walk up buildings 902 12 12 32 444 1.67
Address City, State, Zip Code County Year Built Stories Units Buildings
Avg SF per Unit Attached Garage Tuck-Under Garage Detached Garage Surface Parking Parking Ratio
PROPERTY SUMMARY
7940 Brayden Point
Colorado Springs, CO
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HIGH QUALITY CONSTRUCTION Outlook Briargate is a high-quality asset with an extensive suite of community amenities that are among the very best in the market.
COMPELLING VALUE TO REPLACEMENT COST Replacement cost would likely exceed $350,000 per unit today.
STRONG SUBMARKET FUNDAMENTALS The Northern Colorado Springs submarket has experienced nearly 20% rent growth since 2019, the second-highest rent growth of all Colorado Springs submarkets. Yardi Matrix projects rents in the Briargate submarket to increase another 21% by 2029.
GROWING POPULATION & SUPPLY SHORTAGE The Colorado Springs metro has gained more than 26,000 residents in the last five years as people relocate for high-tech jobs and even higher quality of life. While construction of new apartments has picked up in recent years, it is estimated that the market will still be over 9,000 units short by 2030.
ACCESS TO MAJOR EMPLOYERS Strategically located less than five minutes from some of Colorado Springs’ largest employers, including the United States Air Force Academy (7,650 employees), Northrup Grumman (2,400 employees), Lockheed Martin (1,500 employees), Progressive Insurance (1,400 employees), Common Spirit Health (1,170 employees), and T. Rowe Price (800 employees).
LUXURY RETAIL DESTINATION Residents of Outlook Briargate are central to Colorado Springs’ premier retail destinations with access to over 5.7 million square feet of retail within two miles. The community is adjacent to the Chapel Hills Mall, anchored by Macy’s, DICK’s Sporting Goods, Dillard’s, and AMC, and within walking distance is Colorado Springs’ only Whole Foods. Just one mile away sits the Promenade Shops at Briargate, which features high-end stores such as Apple, Lululemon, and Pottery Barn.
Mack Nelson
Senior Associate 303.689.8348 mack.nelson@berkadia.com
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