Investors are buying up apartment buildings in Colorado Springs, according to the Colorado Springs Business Journal.

Seagate Properties just purchased an apartment building across from the Broadmoor Towne Center.  The company recently purchased other properties in Boulder and the Denver metro area.  The company is looking to acquire 1500 units on the Front Range this year.

Other companies, including Florida based Avenir, are interested in the hot market.  The company announced plans to purchase up to 2,000 apartment units in the Denver and Colorado Springs markets in 2012.

Interest in the Colorado Springs apartment market stems from low vacancy rates and higher rents, states the Colorado Springs Business Journal.

Read the full article at csbj.com.

Posted in Real Estate Market Conditions

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