Pinnacle Announces the Sale of Redwood Terrace in Colorado Springs

Pinnacle Real Estate Advisors, LLC is pleased to announce the sale of Redwood Terrace Apartments at 1466-1480 Hathaway Drive located in Colorado Springs, Colorado. The 10,816 square foot multifamily building sold for $1,120,000 or $103.55 per square foot. Michael Krebsbach, Associate Advisor, and Jamie Mitchell, Principal, represented the seller in the transaction.

“The seller owned Redwood Terrace for the past 13 years. The family decided it was time to take advantage of today’s historically high prices by selling. They are ready to retire and simplify their life. The buyer whom was represented by an outside broker was looking to grow his Colorado Springs apartment portfolio by acquiring Redwood Terrace,” stated Krebsbach.