News release

Brickstone Partners acquires two-property portfolio, financing secured

JLL Capital Markets arranged the acquisition and renovation financing for the portfolio consisting of Landmark and Stone Creek Apartments in Fort Collins

May 13, 2021

DENVER, May 13, 2021 – JLL Capital Markets announced today it has arranged an acquisition and renovation financing for the Landmark and Stone Creek Apartments, a two-property portfolio located in Fort Collins, Colorado. The purchase and renovation costs will total more than $81,000,000.

JLL secured the financing on behalf of Brickstone Partners in acquiring the portfolio through a national balance sheet lender. The loan was secured for acquisition and repositioning of the assets with significant capital investment plans for the interior and exterior of the property.

The portfolio totals 288 one-, two- and three-bedroom units. Brickstone will embark on a comprehensive renovation strategy to encompass all units at both properties. Current amenities at the properties include a dog park, state-of-the-art fitness center and two heated saltwater pools.

The Landmark apartments are located at 1050 Hobbit St., total 120 units, 101,184 rentable square feet and consist of 12, two- and three-story buildings. The Stone Creek Apartments are located at 1225 W. Prospect Rd. and total 168 units, 130,520 rentable square feet and consist of 13 two-story buildings. Nestled in Central Fort Collins, the apartments offer a quaint neighborhood setting without compromising nearby entertainment, dining and retail amenities.

Also boasting scenic ponds and outdoor recreation, the apartments are also located less than 1.5 miles from Pineridge Natural Area, a preserved parkland with biking and hiking trails; the Horsetooth Reservoir, which generates over 570,000 visitors and contains 6.5 miles and 1,900 acres of public lands with fishing, boating and biking; and Spring Canyon, one of most well-known parks in the area with athletic facilities.

The JLL Capital Markets team representing the borrower was led by Senior Director Kristian Lichtenfels and Director Robert Bova.

“We are thrilled to have helped Brickstone in capitalizing this expansion of their Colorado multi-housing portfolio with these two extremely well-located garden style apartment communities in the growing Fort Collins market,” said  Lichtenfels. “Brickstone’s significant investment into these 1985 built properties will ensure strong cash flow for many decades to come.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Brickstone Partners

Brickstone Partners, Inc. is a full-service real estate investment and development firm located in Nashville, Tennessee. Founded in 2001 by Daniel Otis, Brickstone has been involved in more than 2.5 million square feet of office, retail and multi-family investment and development. Brickstone’s core investment thesis is to pursue projects in highly constrained markets that have asymmetric risk vs. reward, whereby generating opportunistic yields with much lower risk than normal. While Brickstone delivers strong returns to its investors, it is equally committed to adding long-lasting value to the communities and neighborhoods it serves.