Inland Private Capital buys Colorado property
OAK BROOK - Inland Private Capital Corp. Friday announced the sale of the 263-unit Canyons at Saddle Rock apartments for about $56.7 million.
The 277,373-square-foot property is located at 6850 Versailles Way, in Aurora, Colorado. The garden-style, multifamily residential complex includes 17 two-story and three-story apartment buildings and a clubhouse building with a swimming pool, fitness center, billiards room and a business center.
Constructed in 2008, the residential buildings are comprised of 134 one-bedroom, 94 two-bedroom and 35 three-bedroom apartments. The apartments average 1,054 square feet of livable space and include full-size washers and dryers. Select units feature premium amenities including gourmet kitchens, fireplaces and attached garages.
"This investment was another very successful full-cycle deal on IPCC's multifamily investment platform," said Keith Lampi, president and chief operating officer of IPCC, based in Oak Brook.
IPCC purchased the property in February 2014. The property was sold at a substantial premium of about 139 percent, he said.