Inland Private Capital Corp. sold three upscale multifamily properties in Colorado for a combined $206.5 million.

The portfolio comprised the 252-unit Greens at Van de Water and the 303-unit Lake Vista at Centerra Apartments in Loveland, and the 300-unit Arbour Square at Orchard Town Center in Westminster, which the seller bought in 2014.

An Inland Private Capital subsidiary that serves as asset manager conducted the sale of the portfolio on behalf of its Colorado Multifamily Portfolio DST, a 1031 investment program.

Inland Private Capital President and COO Keith Lampi said the sale marks the industry's "largest securitized 1031 program to go full-cycle," and offers liquidity for more than 240 investors.

Inland Private Capital is part of commercial real estate and finance group Inland Real Estate Group of Cos. Inc.