Taft Stettinius & Hollister LLP advised Brickstone Partners on the deal.
Brickstone Partners, a full-service real estate investment and development firm located in Nashville, Tenn., announced the $81 million acquisition and renovation of 288 units comprised of the Landmark and Stone Creek apartment communities adjacent to Colorado State University.
Brickstone will embark on a comprehensive upgrade of the properties, which combined feature 288 apartment homes. The upgrades will modernize the 1986-built units and include new flooring, modern kitchen and bathroom cabinets, quartz countertops, stainless steel appliances, upgraded doors, new lighting and plumbing fixtures, exterior landscaping, common-area improvements and clubhouse finishes.
Landmark and Stone Creek are just minutes from campus and provide quick access to numerous dining, shopping and entertainment destinations. Among the nearby popular attractions are Canvas Stadium, home to the CSU Rams football team; North Campus West retail district; and the $313 million Foothills Mall anchored by H&M and Nordstrom Rack.
The communities are highly amenitized and include heated saltwater pools, club-quality fitness centers, dog parks and numerous outdoor spaces.
Brickstone’s acquisition of the two communities comes on the heels of the company’s completion of LakeHaus, a $115 million, 200-unit luxury multifamily development in Minneapolis, Minn., and The Lodge, a 371-bed student housing value-add acquisition in Boulder, Colo., near the University of Colorado. Brickstone is one of the largest student housing operators in Boulder, Colo.
Brickstone Partners, Inc. is a full-service real estate investment and development firm officed in Nashville. Founded in 2001 by Otis, Brickstone has been involved in more than 2.5 million square feet of office, retail and multi-family investment and development.
Taft’s legal team included Jeffrey Friedman (Picture), Bob Cordiak, Rick Aderman, Adam Law, and Dan Lindgren.
Involved fees earner: Richard Aderman – Taft Stettinius & Hollister; Jeffrey Friedman – Taft Stettinius & Hollister; Adam Law – Taft Stettinius & Hollister; Daniel Lindgren – Taft Stettinius & Hollister;
Law Firms: Taft Stettinius & Hollister;
Clients: Brickstone Partners;