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FORT COLLINS, CO-Griffis/Blessing, an apartment management and investment company in Colorado Springs, went to the other end of the Front Range for its latest purchase. For the buy, Griffis/Blessing CFO Gary Winegar put together two limited liability corporations, Collins West Apartments and Collins West Knowlton. The entities paid $17.1 million for the 300-unit Collins West apartment community at 2736 Raintree Dr. in this northern Colorado city. The sale price equates to $57,000 per unit.

This marks Griffis/Blessing's first investment in Fort Collins, says Chuck Sweeney, who handled the sale with John Loretta of the Denver office of Hendricks & Partners. "Not too many communities of this size go on the market in Fort Collins," Sweeney tells GlobeSt.com. "This is a good price for a 20-year-old property. But it has a wonderful location right next to Rolland Moore Park. If you're an athlete, being on the park is a dream location."

Sweeney says about 50% of the residents are students at Colorado State University at Fort Collins, while the other half is made up of professionals. "I would say you tend to have a bit more mature resident here than at other places."