Mountain View Capital acquires Volta at Voyager in Colorado Springs for $52.6M
JLL represented the seller and led the $37.556M financing for the new owner
DENVER, September 1, 2020 – JLL Capital Markets announced today that it has arranged the $52.6 million property sale and $37.556 million financing of the Volta at Voyager multi-housing community located at 11275 Nahcolite Point in Colorado Springs, Colorado.
JLL represented the seller, BY Development, to complete the sale to Mountain View Capital. JLL, on behalf of Mountain View Capital, secured a 4-year interest-only loan with a 3.25% interest rate at proceeds equivalent to 71.4% of the purchase price. The loan was provided by a national insurance company.
Volta at Voyager boasts a contemporary feel, with breathtaking mountain views and outdoor adventure opportunities nearby. The property is perfectly positioned with the perks of suburban-life amenities but in close proximity to downtown Colorado Springs and Denver. The property is also located near the area’s most prominent golf courses and parks, such as Garden of the Gods, and entertainment, dining and shopping, such as the Promenade Shops at Briargate and the InterQuest Marketplace.
Community amenities include an onsite Bark Park and Paw Spa for residents’ dogs, grill stations, pool and hot tub, resort-style clubhouse, fitness center, Serenity Center for relaxation and yoga and more.
Volta at Voyager includes 200 one-, two- and three-bedroom apartments contain five different layouts and range from 696 to 1,300 square feet. The majority of units feature patios and balconies, large kitchen islands, modern finishes and lighting, double vanity sinks and large walk-in closets, among others.
The JLL Capital Markets team representing the seller was led by Directors Mack Nelson and Christopher White.
“The strong pricing achieved for Volta at Voyager is a testament to the excellent quality of the asset, as well as the attractive fundamentals of the Colorado Springs market,” said Nelson. “Even during a global pandemic, Colorado Springs continues to attract new capital, both from within Colorado and on a national stage.”
The JLL Capital Markets team representing the new buyer’s financing was led by Managing Director Josh Simon and Senior Director Kristian Lichtenfels.
JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.
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 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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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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Mountain View Capital, LLC
Mountain View Capital, LLC, the investment company for Boulder, Colorado-based Jeffrey K. Sanders, was formed in 2008 to develop and acquire long-term real estate investment opportunities. Mountain View Capital’s current multifamily portfolio consists of over 1,700 units across seven properties along Colorado’s Front Range. Mountain View Capital’s strategy is to create long-term cash flows and substantial value appreciation with every investment. Since 2001, Mr. Sanders has been involved with the acquisition, repositioning and sale of over 4,000 apartment units and approximately 500,000 square feet of retail and office.