Quail Cove was built in 1983 and has been well maintained by ownership , with approximately $ 5 million spent on capital expenditures within the past 5 years including new roofs , new landscaping , a clubhouse upgrade , among other items .
The property offers spectacular views of the surrounding mountains , while also overlooking Quail Lake which resides right next to the community .
Moghavem notes : “ Quail Cove is a tremendous blankcanvas valueadd opportunity for our team to implement our proven strategy to modernize and reposition the interiors .”
Quail Cove consists of a mixture of one and twobedroom units with spacious floorplans , washer / dryer hookups , wood burning fireplaces , central heat and air , walkin closets , and private balconies and patios . The property is located at
Colorado Springs , Colorado . Highland Park is a 206unit multifamily property in the rapidly growing Northeast Colorado Springs submarket .
“ Highland Park is located off of Union Boulevard and Academy Boulevard , offering plenty of visibility to prospective residents ,” explains Moghavem .
Trion Properties and equity partner PCCP , LLC have acquired a twoproperty portfolio including Highland Park , a 206unit multifamily community in the rapidly growing Northeast Colorado Springs sub market .
“ The property boasts beautiful views , easy accessibility to Interstate 25 and the Mountain Metro Bus Line for shopping and entertainment options , hiking and biking trails , and is just five minutes away from University of Colorado , Colorado Springs .”
Similar to Quail Cove , Highland Park was also well maintained by the previous owner , with nearly $ 2 million spent on improvements within the last five years for new landscaping , roofs , paint , among other items . The property is highly amenitized with courtyards , a dog park , pool , sauna , and picnic areas onsite .
Unit amenities include spacious floorplans , washer / dryer hookups , wood burning fireplaces , central heat and air , walk in closets , and private balconies and patios .
Highland Park is also located in Colorado Springs , Colorado and offers a mixture of one and twobedroom units .
Trion acquired both properties from one seller who had legacy ownership over each . Winston Black at Berkadia and Frank Farrel represented both parties in the transaction . Continental Partners arranged the financing of both deals from Freddie Mac , through Andrew Kwok from Capital One .
ABOUT TRION PROPERTIES
Founded in 2005 and headquartered in Los Angeles , Trion Properties is a private equity real estate firm that invests in valueadd multifamily throughout the west coast . Trion has completed more than $ 700 million in transactions , with a portfolio of over $ 550 million in assets , generating an average internal rate of return in excess of 30 percent . With its fully builtout operator platform , Trion has repositioned and stabilized undervalued assets , leveraging its expertise in real estate finance and renovation of multifamily properties to drive returns for its investors .
Since its inception , Trion has acquired the fee interest — or in certain instances the debt secured by the fee interest — of over 3,550 multifamily units . To date , Trion has successfully repositioned and resold over 1,750 units and over 200,430 square feet of commercial real estate space .
The principals of Trion Properties are Max Sharkansky and Mitch Paskover , two real estate professionals with over 30 years of combined experience in finance , acquisitions , management and redevelopment .
“ Colorado ’ s strong military presence , booming aerospace and hightech manufacturing industries are just a few reasons why the region has seen exponential growth and an influx of top talent over the past few years .”
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