Hamilton Zanze Acquires Newly Constructed 200-Unit Enchanted Springs Condominium Group in Japanese Colorado Springs Submarket

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Hamilton Zanze Acquires Newly Built 200-Unit Enchanted Springs Apartment Community in Eastern Colorado Springs Submarket

COLORADO SPRINGS, CO – San Francisco-based real estate company Hamilton Zanze (HZ) has the Enchanted Springs residential complex of 200 units in Colorado Springs, CO. acquired Bill Morkes and Craig Stack with Colliers International.

Built in 2020, the community is located in a stable submarket of the Colorado Springs metropolitan area, with average home value and average household income above the national average. The subway has a strong defense industry and is home to the U.S. Air Force Academy.

"Enchanted Springs was an exciting opportunity to purchase a brand new facility in Colorado Springs," said David Nelson, Hamilton Zanze chief transactions officer. "The property offers a full suite of amenities, a prime location near local employers, and provides residents with the quality of life that comes with being in the city's proximity to outdoor recreation. We look forward to our continued growth in the Colorado Springs market."

The Class A parish is located at 3281 Divine Heights in the East Colorado Springs submarket, about eight miles northeast of downtown Colorado Springs. The 200 units averaged 979 square feet with nine different floor plans. Communal facilities include an indoor fitness center, clubhouse, pool and resort-style spa and business center. Enchanted springs were 97% full at the time of purchase.

HZ's capital improvements will focus on continuing the indoor units renovation plan originally carried out by the seller. Management of the property has also been transferred to HZ subsidiary Mission Rock Residential, a Denver-based company.

Source: Hamilton Zanze

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