Inland Real Estate Acquisitions, LLC Acquired Eight Multifamily Properties in Colorado in 2017
DENVER – Inland Real Estate Acquisitions, LLC, negotiated and closed the purchase of eight multifamily properties in Colorado throughout 2017 on behalf of Inland-related parties. The acquisitions total 2,199 units for a total cumulative purchase price of approximately $509 million.
To date, Inland Real Estate Acquisitions, LLC has completed the acquisition of 22 multifamily properties in Colorado, totaling 5,183 units. The properties, which include apartment and townhome-style communities, span across the state and are located in the cities of Aurora, Arvada, Brighton, Broomfield, Castle Rock, Colorado Springs, Denver, Fort Collins, Lakewood, Loveland and Westminster.
Most recently, Inland closed on Ashford East 88, a 322-unit multifamily property located in Thornton. Located at 101 East 88th, the property, which will be renamed Park 88 Apartment Homes, underwent significant interior and exterior renovations in 2014. It consists of 14 three-story buildings with 147 one-bedroom, 82 two-bedroom/one-bath, 86 two-bedroom/one-and-a-half bath and seven studio units
Union West Apartments, a 267-unit, Class A multifamily property located in Lakewood closed in January. The mid-rise property consists of 20 studios, 141 one-bedroom, 90 two-bedroom and 16 three-bedroom units. The property also offers a garage with 402 covered parking spaces and 18 open spaces.
Matthew Tice and Mark Cosenza, both senior vice presidents of Inland Real Estate Acquisitions, LLC, are responsible for completing the purchases on behalf of the various Inland affiliates.
“We have continued to see strong economic drivers and demographics throughout Colorado, signaling a need for multifamily properties and a want for renters,” said Tice.
“When looking for individual assets, we are open to multiple classes of products, but strive to acquire high quality properties in prime locations that serve as employment hubs, retail trade areas or are easily accessed by public transportation,” added Cosenza.
Throughout the United States, Inland Real Estate Acquisitions, LLC has negotiated and closed the purchase of 502 multifamily and student housing properties, totaling 77,431 units, for a total purchase price of more than $5.2 billion.
Since inception, Inland Real Estate Acquisitions, LLC has facilitated more than $45 billion of purchases including single-tenant properties, medical office buildings, apartments and retail properties.
Images courtesy of Inland Real Estate Acquisitions, LLC