OAK BROOK, IL - Inland Real Estate Acquisitions announced that it facilitated the acquisition of The Preserve at the Meadows, a 220-unit multifamily property located in Fort Collins, Colorado. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, facilitated the transaction on behalf of an Inland affiliate.
Located at 350 Riva Ridge in Fort Collins, The Preserve at the Meadows consists of 10 buildings containing 68 one-bedroom, 134 two-bedroom and 18 three-bedroom units. Each unit includes stainless steel appliances, a full size washer and dryer, storage areas, nine-foot ceilings and, in select units, a gas fireplace and walk-in closet.
The property also features a heated swimming pool, hot tub, playground, club house, business center, fitness center, a picnic area and mountain views. The Preserve at the Meadows is also within walking distance to the Spring Creek Bike Trail, a paved off-road route that travels more than seven miles across Fort Collins.
“We are pleased to have closed on this high quality multifamily property that’s located with great proximity to shopping and Colorado State University,” said Tice. “The Preserve at the Meadows is Inland’s third multifamily property in Fort Collins, we’re very happy with the market due to its strong occupancy rate, access to great schools and proximity to major employees.”
As of the acquisition date, the property was 96 percent leased.
To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $43 billion of purchases including retail centers, apartments and single-tenant properties.