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OC-Based Firm Closes $54M Colorado Buy

COLORADO SPRINGS, CO-According to Passco Cos., the 332-unit Vue21 is “the right product in an especially prime location in an especially strong economic and populous market.”

By Natalie Dolce | Updated on December 04, 2013

COLORADO SPRINGS, CO-Passco Cos. LLC, a privately held Orange County, CA-based firm, has completed the $54 million acquisition of “Vue21,” formerly known as Alexan at Briargate. The 332-unit class A multifamily community is located in Colorado Springs, CO.

According to Gary Goodman, SVP of acquisitions for Passco, the deal closed in about 45 days. “Multifamily has been a hot product over the last few years and has provided lucrative opportunities for investors,” he explains. “At this time, it is much more challenging to identify strong investment opportunities in this sector.”

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