Columbus Nova MB Invests in Colorado State University’s Aspen Heights – Fort Collins

Columbus Nova MB (“CNMB”) is excited to announce a preferred equity investment supporting the acquisition of Aspen Heights – Fort Collins at Colorado State University. This 712 bed, purpose-built, cottage-style student housing community built in 2014 sits approximately 2 miles from campus – just blocks from the New Belgium Brewery complex, the downtown Ft. Collins social scene and the evolving commercial corridor north of campus.

Brant Murdock, Principal and Columbus Nova MB noted, “The residences and layout couldn’t be better suited for students at this school. In addition to their studies, these students are passionate about getting outside and enjoying the outdoors. They want a safe, clean, fun and pedestrian-friendly neighborhood to call ‘home’ and Aspen Heights provides all that and more. The oversized residences, patios/balconies and yards provide extra room for those with pets or a desire to spread out, while the 24 hour fitness center, movie room, outdoor sand volleyball court, pool, hot tub and grills support a healthy sense of community and social interaction.”

Mr. Murdock continued, “We are very excited to be a part of this transaction, and to being a value-add partner to Coastal Ridge Real Estate and its highly-regarded lead equity partner. It was a pleasure working with both groups on this investment, and we look forward to future opportunities to work together to invest in first-class, income-oriented real estate assets.”

Patrick McBride, a Managing Partner at Coastal Ridge Real Estate Partners commented, “Columbus Nova MB’s preferred equity investment addresses a key component of our balance sheet, and provides us with the financial flexibility to ensure Aspen Heights remains the number one location for Colorado State students seeking off-campus housing. We are extremely excited about this collaboration and have already begun working with CNMB on additional preferred equity partnership opportunities.”

Please visit http://www.myaspenheights.com/our-locations/fort-collins/ for more information on this community. For more information on Columbus Nova MB please visit http://www.columbusnovamb.com/ or contact Amos Beason +1 (704) 285-7750 or Aldo Martinez at +1 (704) 285-6533.

About CNMB

Columbus Nova MB LLC, with offices in Charlotte, New York, manages portfolios of real estate assets for a variety of investors on a separate account basis. CNMB’s Advisory Group serves middle market businesses by providing buy and sell-side, capital formation and restructuring services on a fee basis. CNMB also manages the Baikal Program, which makes equity investments in growing businesses and middle market private equity funds.

About Coastal Ridge

Coastal Ridge Real Estate is a full service real estate investment firm established to leverage the operational platforms, industry networks, and skill sets of our principals in order to successfully execute on a core, core plus, and light value add investment strategy in the student housing, senior housing, and conventional multifamily real estate asset classes. The firm’s vertically integrated platform includes transaction services, asset management, and property management. Coastal Ridge’s portfolio currently includes approximately 9,000 student housing beds and nearly 3,000 conventional apartment units across the country, with assets under management totaling over $900 million. Headquartered in Columbus, Ohio with a West Coast office in Malibu, California, Coastal Ridge is led by a team of over 300 real estate professionals. The firm was named to the 2015 and 2016 Inc. 5000 lists of Fastest-Growing Private Companies in America, and was honored as one of Columbus’ Fastest Growing Companies in Central Ohio by Columbus Business First in 2015 and 2016.