PRESS ROOMNEWS RELEASE
Inland Real Estate Acquisitions, Inc. Continues Multifamily Purchasing Spree in ColoradoNovember 21, 2017
Oak Brook, Ill. – Inland Real Estate Acquisitions, Inc. announced today that it negotiated and helped close the purchase of Arterra Place Apartments, a 200-unit multifamily property located in Aurora, Colorado, an eastern suburb of Denver. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transaction, with assistance from Gina LaMantia, managing counsel for Charles J. Benvenuto, P.C., on behalf of an Inland affiliate.
Located at 17036 East Ohio Drive, the property is situated on nearly 10 acres and was recently constructed in 2014. Arterra Place Apartments consists of eight three-story buildings featuring 112 one-bedroom, 68 two-bedroom and 20 three-bedroom units with 334 total parking spaces. Each unit includes nine-foot ceilings, granite countertops, a fireplace, walk-in closets, a full-size washer and dryer, a balcony and scenic mountain views. The property also features community amenities including a clubhouse with WiFi and a media room, a heated swimming pool, outdoor fireplaces, a 24-hour fitness center, a bicycle/jogging path, barbecue grills, a playground and a heated pet wash station.
“Arterra Place Apartments was an attractive acquisition opportunity due to its high quality amenities and ideal location in the highly desirable suburb of Aurora,” said Tice. “With more than 320,000 residents within a five-mile radius, the property provides residents with convenient access to a major interstate as well as a choice of several highly rated schools. This property is a prime example of the types of multifamily acquisitions we continue to seek out, and marks the 10th transaction we’ve negotiated and closed in the Denver metro area.”
As of November 20, 2017, the property was 96 percent occupied.
With this transaction, Inland Real Estate Acquisitions, Inc. has now facilitated the acquisition of 2,234 units in the Denver metro. To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $45 billion of purchases including single-tenant properties, medical office buildings, retail properties and a total of more than $4.4 billion in apartments.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for 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.