COLORADO SPRINGS, CO – San Francisco-based real estate firm Hamilton Zanze (HZ) has bought the 200-unit Enchanted Springs apartment community in Colorado Springs, CO. HZ bought the property on August 18, 2021 from a development firm who was represented by Bill Morkes and Craig Stack with Colliers International.
The community, built in 2020, is located in a steady submarket of the Colorado Springs metro area, with median home value and median household income above national averages. Anchored by a strong defense industry, the metro is home to the U.S. Air Force Academy.
“Enchanted Springs provided an exciting opportunity to buy a brand-new asset in Colorado Springs,” said David Nelson, Hamilton Zanze’s chief transactions officer. “The property features an extensive amenity package, prime location near regional employers, and offers residents the quality of life provided by the city’s proximity to outdoor recreation. We look forward to our continued growth in the Colorado Springs market.”
The Class A community is located at 3281 Divine Heights in the Eastern Colorado Springs submarket, approximately eight miles northeast of Downtown Colorado Springs. The 200 units average 979 square feet with nine different floor plans. Community amenities include an indoor fitness center, clubhouse, resort-style pool and spa, and business center. Enchanted Springs was 97% occupied at the time of buy.
HZ’s capital improvements will focus on continuing the interior unit renovation plot originally implemented by the seller. Management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.

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FORT LAUDERDALE, FL – The Bascom Group has bought a 405-unit apartment community within the Fort Lauderdale MSA in Florida. The property, Sunny Lake Apartments, was bought through a partnership with East Hill Capital’s Duff Bedrosian.
Sunny Lake represents Bascom’s third acquisition in the state of Florida. Bascom bought the 405-unit apartment community for $79,250,000 or $195,679 per unit. Bridge Investment Group provided the debt financing for the acquisition and was arranged by Stuart Wernick, Andrew Garrison, and Sam Ziolkowski of Walker & Dunlop. Cushman & Wakefield will provide property management services and interior renovations.
Bascom’s Senior Vice President & Principal, Jim Singleton, stated “Sunny Lake was a fantastic opportunity for Bascom to re-enter into the Florida market at an attractive basis. The Fort Lauderdale MSA has strong multifamily fundamentals and is positioned well for continued economic growth. The market has experienced double digit rent growth as well as over 30% growth in home values year over year. Lauderhill also has brilliant accessibility – located near three international airports, three international ports, and three major roadways.”
Sunny Lake is in Lauderhill, Florida an area experiencing substantial growth due to the rapidly growing Florida economy. The property’s proximity to the burgeoning Downtown Fort Lauderdale district allows convenient access to retail, entertainment, dining, and major employment centers throughout the Fort Lauderdale metro. Bascom plans to modernize the existing interiors, common areas, and implement operational efficiencies at Sunny Lake, while re-establishing a presence in the Florida market. Fort Lauderdale’s affordable, lower density housing, pro-business environment, no state taxes, and tourist rebound since the pandemic have established the MSA as one of the most resilient apartment markets in the country.
Bascom’s Senior Vice President of Operations, Tony Ferrell, added, “There is brilliant value-add potential at Sunny Lake. The low-density units and excess of amenity space is primed for capital improvement to make a more holistic community experience for its residents. This acquisition is a fantastic opportunity to significantly improve the community, while still offering residents an affordable place to call home.”

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KISSIMMEE, FL – Balfour Beatty Communities, a national residential real estate investment and management company, announced that it has bought a 352-unit apartment community in Kissimmee, Florida with ApexOne Investment Partners. The acquisition expands the company s Florida footprint to 11 properties.
San Mateo Crossing is one of the newer communities in the Kissimmee area, opening in late 2019. Nine unique floor plot options are available across the community s eight four-tale buildings. Modern amenities are featured in each apartment home, including modern cabinetry, stainless steel finishes and appliances, granite countertops, and wood-style flooring.
The community offers a convenient location for commuters, situated within two miles of two major highways and adjacent to the Tupperware SunRail station providing simple access to the broader Orlando area. Also within walking distance is the newly constructed Orlando Health ER & Medical Pavilion.
We are excited to invest in a new Florida submarket for Balfour Beatty Communities, particularly one with as much promising growth as Orlando, said Mike Price, SVP of Acquisitions for Balfour Beatty Communities. We look forward to bringing our world-class management services to this upscale community.

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