OAK BROOK, Ill.--(BUSINESS WIRE)--Inland Real Estate Acquisitions, LLC announced today that it 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.
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.
About Inland Real Estate Acquisitions, LLC
Inland Real Estate Acquisitions, LLC assists in identifying potential acquisition opportunities, negotiates acquisition-related contracts and acquires real estate assets for the various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.