Business

Inland sells Denver multifamily properties

Posted March 19, 2019 1:00 am

OAK BROOK - Inland Private Capital Corp. said it has sold two multifamily properties, Ascent Uptown and Emerson Lofts, both located in Denver, Colorado, for a gross sale price of $21.85 million.

IPC, through its subsidiary which serves as asset manager, facilitated the sale of the properties on behalf of Denver Multifamily Portfolio DST, one of its 1031 investment programs.

Ascent Uptown is a three-story mixed-use building constructed in 2013. The property consists of 22 units and approximately 4,988 square feet of retail space. The Emerson Lofts is a 42-unit multifamily property constructed in 2013. The property also includes 42 basement garage parking spaces.

Ascent Uptown was 100 percent leased and Emerson Lofts was 97.62 percent leased at the time of the sale.

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