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Dallas' Willmax Capital Seals Eighth Apartment Buy in CO, Pays Tad Over $3 Mil

COLORADO SPRINGS, CO-Dallas-based Willmax Capital is sealing its eighth apartment acquisition in CO, paying slightly more than $3 million for the Eastborough Village Apartments in Colorado Springs, located 60 miles south of Denver. A major renovation is being planned.

By John Rebchook | Updated on September 13, 2000

COLORADO SPRINGS, CO-Dallas-based Willmax Capital is sealing its eighth apartment acquisition in CO, paying slightly more than $3 million for the Eastborough Village Apartments in Colorado Springs, located 60 miles south of Denver.

Eastborough Village Apartments Inc., based in Boston, sold the property, says CB Richard Ellis’ Steve Rahe, co-broker for the sale. Eastborough Village is a 111-unit property built in 1972. Despite its age, it has a good location four blocks southeast of the Citadel Mall and two blocks east of Academy Boulevard, a major thoroughfare in the Springs. Willmax is planning a major renovation, say brokers.

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