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Investors Real Estate Trust pays $125M for Denver, Minneapolis properties

Investors Real Estate Trust paid approximately $99.3 million to acquire the Lugano at Cherry Creek property in Denver.

The property comprises 328 homes and 13,262 square feet of retail space on 14.2 acres of land.

The multifamily real estate investment trust also acquired the 96-unit FreightYard Townhomes & Flats community in Minneapolis for $26.0 million.

The company also said it sold its portfolio of 1,042 multifamily homes in Topeka, Kan., for about $82.8 million.