Continental Properties Acquires Premier Apartment Community in Colorado Springs
Deal News | Feb 03, 2025 | Continental Properties Co Inc
Continental Properties, a national developer and operator of rental communities, has acquired Outlook Briargate, a 300-unit apartment community in northern Colorado Springs, through its eighth real estate fund. The community will be rebranded as Forge at Briargate, aligning with the area's energy and beauty. Originally developed by Evergreen Development in 2023, the community consists of high-end, pet-friendly apartments with modern finishes, reflecting thoughtful design. Forge at Briargate offers numerous amenities and is situated near major employment centers and retail hubs, enhancing its appeal for long-term success. Management will remain under Greystar for the first year to ensure a seamless transition. This acquisition marks the second purchase by Continental Properties Real Estate Opportunities Fund I, highlighting its commitment to thriving residential spaces.
Sectors
- Real Estate
- Property Management
Geography
- United States – The acquisition took place in Colorado Springs, which is within the United States.
- Colorado – The location of Outlook Briargate, now Forge at Briargate, is specifically in Colorado Springs, Colorado.
Industry
- Real Estate – The acquisition of a 300-unit apartment community falls directly under the real estate industry.
- Property Management – Involves the operational management of the acquired community, entrusted to Greystar.
Financials
- – No explicit financial transaction amounts provided in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Continental Properties | Acquirer | Company | National developer and operator of residential, retail, and hospitality properties. |
| Outlook Briargate | Target company | Company | A 300-unit Class A apartment community in Colorado Springs. |
| Greystar | Property Manager | Company | Assigned to manage operations during the first year following acquisition. |
| Evergreen Development | Developer | Company | Original developers of the Outlook Briargate community in 2023. |
| Lockheed Martin | Nearby Employer | Company | Located near the property, providing strategic location benefits. |
| Northrop Grumman | Nearby Employer | Company | Located near the property, providing strategic location benefits. |
| Oracle | Nearby Employer | Company | Located near the property, providing strategic location benefits. |