July 2024 – Colliers Multifamily Advisory Group announced the sale of RS Apartments, a 306-unit apartment community, to a Colorado-based private equity company.  The property is located at 1700 Imperial Drive in Rock Springs, Wyoming and was built in phases between 1970 and 1975.  In addition to the residential units, the property includes a 106-unit self-storage facility adjacent to the community.

The property experienced a drop in occupancy during the pandemic of 2020 that lead to significant deferred maintenance.  At the time of sale, the property had nearly 30 down units that needed significant capital improvements to return them to rent ready status.  The new owner plans a significant capital investment to bring these units back on-line as well as to improve the property exterior and enhance common area amenities.

About Colliers

Colliers Denver Multifamily Advisory group specializes in the disposition of multifamily assets in Colorado and the surrounding states including market-rate, affordable, senior, student, mixed-use assets, and land suitable for multifamily development.

For More Information

Bill Morkes
Senior Vice President | Multifamily Investments
Dir +1 303 283 4583 | Mob +1 303 351 1371
bill.morkes@colliers.com

Craig Stack
Senior Vice President | Multifamily Investments
Dir +1 720 833 4602 | Mob +1 303 931 2274
craig.stack@colliers.com

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