The new owner spent $37.3 million on Cottonwood Terrace and financed the acquisition through a Freddie Mac loan. : Oak Coast Properties has acquired Cottonwood Terrace in Colorado Springs, Colo., from Peak Capital Partners. The buyer purchased the 200-unit property for $37.3 million and financed the acquisition through a $28.5 million, 12-year, fixed-rate Freddie Mac loan. The asset previously changed hands for $14.8 million in 2011, when Peak Capital purchased it from Griffis/Blessing, according to Yardi Matrix data.