Inland purchases Colorado multifamily property

OAK BROOK - Inland Real Estate Acquisitions helped close the purchase of Black Feather Apartment Homes, an 83-unit multifamily property in Castle Rock, Colorado, a southern suburb of Denver.

Terms of the acquisition were not announced.

The property was constructed in 2016 and features a mix of townhouse, three-story walk-up apartments and owned condominium units. The transaction consisted of 48 two-bedroom, 32 three-bedroom and three four-bedroom apartments with 49 detached and 28 attached garages and 131 open parking spaces. Each unit at Black Feather Apartment Homes features nine-foot ceilings, stainless steel appliances, granite countertops and a full-size washer and dryer. The property also provides residents with access to a community swimming pool, clubhouse and barbecue areas.

As of August 1, the property was 96.4 percent occupied.

Matthew Tice, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transaction, with assistance from David Neboyskey, assistant vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.

"Black Feather Apartment Homes' prime location places residents just a short drive from Denver or Colorado Springs and within proximity to a variety of retail destinations," said Tice. "Due to its high-end, condominium-quality finishes combined with convenient access to a major interstate, this property was an attractive acquisition opportunity and is an example of the type of multifamily properties we continue to seek out."