CORE Pacific Advisors Buys $150 Million Multifamily Property

CORE Pacific Advisors, an investment advisory firm and sponsor of 1031 exchange offerings, announced the acquisition of Arbour Commons Luxury Apartments for $150 million.

CORE Pacific Advisors, an investment advisory firm and sponsor of securitized 1031 exchange offerings, announced the acquisition of Arbour Commons Luxury Apartments for $150 million. The 394-unit multifamily community is located in the Denver suburb of Westminster, Colorado.

“We are very pleased to enter the Denver market with the acquisition of Arbour Commons,” said Justin Morehead, chief executive officer. “Westminster has proven to attract the high-earner tenant base demanding luxury rental options and a suburban atmosphere. This suburb is poised for continued growth.”

According to the company, the property features modern apartment homes with extensive community amenities, surrounded by walkable shopping, restaurants, entertainment options, big-box retailers, and two regional hospitals. Located along Interstate-25, residents of Arbour Commons have convenient access to four major employment centers, including Boulder, Broomfield, Greater Denver, and Denver International Airport.

“Arbour Commons represents the ideal investment for CORE’s low leverage cashflow strategy, [and] we continue to target opportunities in Denver and other Western and Sunbelt markets,” said Jeff Montgomery, vice president of acquisitions.

CORE Pacific Advisors, an affiliate of CORE Realty Holdings Management, sponsors 1031 exchange offerings, including Delaware statutory trusts and tenant-in-common structures.

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