Inland Private Capital Corp. sold two multifamily communities in the Denver area for $72.5 million on behalf of one of its section 1031 investment programs, Multi-Housing News reported.
The Colorado Multifamily Portfolio II DST constitutes Maple Leaf Apartments in Arvada, Colo., was sold for $18.7 million, and Country Club West Apartments in Greeley, Colo., was sold for $53.8 million, according to the report.
Maple Leaf Apartments at 7010 Simms St., comprising 71 one- and two-bedroom units, features high ceilings, fireplaces and garages and was 94.4% leased.
Country Club West Apartments at 1001 50th Ave., comprising 288 one- and two-bedroom units, spans 18 buildings on a 21.4-acre site and features amenities such as a clubhouse with a business center, swimming pool, heated spa, fitness room and playground. It is 93% leased.