Granite Capital Group has sold Enclave Rigden Farm, a townhome-style multifamily community in Fort Collins, for $40.8 million. The transaction equates to nearly $390,000 per unit for the 105-unit property. Avanti Residential acquired the asset, which was reported as 95% occupied at the time of sale. Berkadia Denver led the transaction on behalf of Granite Capital Group, with a team consisting of Robert Bratley, Jack Sanders, Mike Grippi and Pamela Koster.
Enclave Rigden Farm is located at 2758 Iowa Drive and is described as offering convenient access to the Fort Collins metropolitan statistical area. Built in 2007, the property comprises 105 townhomes with direct-access car garages and private patios. The community features a mix of two- and three-bedroom units, providing a range of layouts for residents within a single townhome-style setting.
The townhomes span from 1,120 to 1,407 square feet, according to the information provided. Rents at the property range from $2,333 to $2,774, depending on unit type and size. The combination of attached garages, private outdoor space and larger unit footprints positions the property within the townhome-style segment of the multifamily market, rather than conventional garden-style apartments.
The transaction highlights investor interest in stabilized, modern-vintage multifamily assets in Fort Collins, which is home to Colorado State University. While specific cap rate or financing terms were not disclosed, the per-unit pricing and occupancy level point to continued capital allocation into rental housing in the area. The sale also underscores ongoing activity within the region’s investment sales market for well-leased residential communities.
Details beyond the reported sale price, unit count, occupancy, rents and basic property characteristics were not provided. Information such as the capitalization rate, debt structure, business plans for the buyer or any planned capital improvements was not disclosed in the source material.
