Published On: Tue, Feb 2nd, 2021

Cross Mountain Capital acquires $8.8 million apartment complex in Colorado

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, a US-based real estate investment firm, has completed the acquisition of an $8.8 million apartment complex in Colorado.

The 54-unit is located at 2660 Ingalls street in Edgewater, an upcoming suburb in Denver.

Austin-based multifamily acquisitions firm was a co-sponsor in the transaction, while the bridge debt was provided by .

Cross Mountain Capital is partnering with as property manager. The real estate investment firm has allocated more than $1 million for building improvements, with plans to undertake rebranding, updates of interior, and adding indoor and outdoor amenities for transforming the complex.

Cross Mountain Capital acquires $8.8 million apartment complex in Colorado

Cross Mountain Capital acquires $8.8 million apartment complex in Colorado. Photo courtesy of Cross Mountain Capital.

Michael Gilman – Founder and Managing Principal of Cross Mountain Capital said: “This transaction marks our first acquisition outside of our existing tertiary markets in the Northeast.

“We retained Offerd to locate Class B and C assets in the Intermountain West, further to the investment thesis that the exceptional federal monetary easing cycle will continue creating asset inflation, and, as a result, Class B and C Multifamily will be one of the safest asset classes.”

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