OAK BROOK, IL - Inland Private Capital Corporation announced that the private investment offering of the Colorado Multifamily Portfolio DST, an IPCC-sponsored Delaware statutory trust, has been fully subscribed by investors. The Colorado DST raised over $90 million in capital, and is the largest offering sponsored by IPCC to date.
The Colorado DST owns a portfolio of three Class A apartment communities featuring unique floor plans, premium amenities and located in upscale suburban communities: The Greens at Van de Water in Loveland, Colorado; Lake Vista at Centerra Apartments in Loveland, Colorado; and Arbour Square at Orchard Town Center in Westminster, Colorado.
“Bringing larger, more diversified DST offerings to market has been a strategic focus of IPCC,” said Keith Lampi, president and chief operating officer of IPCC. “These larger scale offerings generally allow for greater diversification and typically have a longer duration, providing independent broker dealers broader access to a quality solution for their investor base.”
“IPCC’s Colorado DST offering marks the largest securitized 1031 offering in our industry’s history,” said Taylor Garrett, managing director of Mountain Dell Consulting, a leading market research and analytics firm focused on the securitized 1031 exchange marketplace.
The Greens at Van de Water, Loveland
Located at 2900 Mountain Lion Drive, The Greens at Van de Water is a 252-unit multifamily complex. Built in 2012, the property is comprised of 10 buildings, consisting of nine three-story apartment buildings and one single-story clubhouse. The clubhouse features premium amenities including a theater room, cyber café, fitness center, barbeque area and resort-style pool and spa. Each apartment unit includes nine-foot ceilings, full-sized washers and dryers and a gourmet kitchen.
Lake Vista at Centerra Apartments, Loveland
Constructed in 2011 and located at 2235 Rocky Mountain Avenue, Lake Vista at Centerra Apartments is a 303-unit multifamily property. The complex is comprised of 17 three-story apartment buildings, one single-story clubhouse, four garage buildings, one pool equipment building and one garden shed. The clubhouse includes a theater room, fitness center, cyber café, commercial kitchen and resort-style pool and spa. The residential units feature premium amenities including nine-foot ceilings, patio and balcony decks with lake views, a gourmet kitchen and full-sized washers and dryers.
Arbour Square at Orchard Town Center, Westminster
Arbour Square at Orchard Town Center is a 300-unit apartment community located at 14770 Orchard Parkway. The property was built in 2011 and is comprised of seven three-story residential buildings and one four-story courtyard building. The property’s upscale amenities include a resort-style pool and spa, zen garden, golf simulator, theater room, cyber café, fitness room and a Sky Lounge with a terrace. Each apartment unit includes nine-foot ceilings, full-sized washers and dryers and a gourmet kitchen.
“The multifamily sector is experiencing significant demand driven by the changing demographics of millennials,” continued Lampi. “We were thrilled to offer such high quality real estate in the expanding Denver and Fort Collins areas, where job and income growth is expected to exceed regional and national averages.”
The Colorado properties are managed by Inland Residential Real Estate Services, an affiliate of IPCC. Inland Residential currently manages 23 multifamily properties, with more than 5,500 apartment units, in seven states on behalf of IPCC, with a total aggregate value of approximately $1 billion. Inland Residential’s total portfolio under management includes 29 multifamily properties, with approximately 6,446 apartment units, in nine states.