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Inland Picks Up 408-Unit Apres Apts. in Latest Denver-Area Investment

Suburban Chicago Firm Now Owns More Than 5,000 Metro Denver Units
January 16, 2018
Inland Real Estate Acquisitions continued its Colorado buying spree with an apartment purchase in Aurora last month.

Inland purchased the 408-unit Apres Apts. at 1503 S. Galena Way for $80 million, according to CoStar research, or $196,078 per unit. At the time of sale, Apres was 95 percent leased.

"Well-situated in Aurora, Apres Apts. is located within the desirable Cherry Creek school district and offers residents with quick access to the Denver Tech Center, Buckley Air Force Base, the Denver business district and the University of Denver," said Mark Cosenza, senior vice president of Inland. "Its strong demographics and ideal location, coupled with our knowledge of the market, made this property an excellent example of the type of multifamily acquisitions we continue to seek out."

The acquisition is the second major suburban Denver apartment buy Inland has announced in a week.

Last week, the company announced that it purchased Union West Apts. in Lakewood for $81 million.

With the acquisition of Apres, Inland now owns more than 5,000 apartment units in the metro Denver area. In total across the country, Inland has facilitated more than $45 billion worth of purchases across property types and $5 billion in multifamily properties.

Pat Stucker and Ray White of JLL represented the seller, TruAmerica Multifamily, in negotiations.

For more information on this property, please see CoStar Comp #4090939.

Molly Armbrister, Denver Market Reporter  CoStar Group   
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