Colorado Multifamily Portfolio DST, a Delaware statutory trust sponsored by Inland Private Capital Corporation, has been fully subscribed by investors. The Colorado DST raised more than $90 million in capital, and is the largest offering sponsored by the company to date.
The Colorado DST owns a portfolio of three Class A apartment properties located in upscale suburban communities, including The Greens at Van de Water in Loveland, Colorado; Lake Vista at Centerra Apartments in Loveland, Colorado; and Arbour Square at Orchard Town Center in Westminster, Colorado.
“Bringing larger, more diversified DST offerings to market has been a strategic focus of IPCC,” said Keith Lampi, president and chief operating officer of IPCC. “These larger scale offerings generally allow for greater diversification and typically have a longer duration, providing independent broker dealers broader access to a quality solution for their investor base.”
“IPCC’s Colorado DST offering marks the largest securitized 1031 offering in our industry’s history,” said Taylor Garrett, managing director of Mountain Dell Consulting, a leading market research and analytics firm focused on the securitized 1031 exchange marketplace.
“The multifamily sector is experiencing significant demand driven by the changing demographics of millennials,” continued Lampi. “We were thrilled to offer such high quality real estate in the expanding Denver and Fort Collins areas, where job and income growth is expected to exceed regional and national averages.”
The Colorado properties are managed by Inland Residential Real Estate Services LLC. Inland Residential currently manages 23 multifamily properties, with more than 5,500 apartment units, in seven states on behalf of Inland Private Capital Corporation, with a total aggregate value of approximately $1 billion. Inland Residential’s total portfolio under management includes 29 multifamily properties, with approximately 6,446 apartment units, in nine states.
Inland Private Capital Corporation, based in Oak Brook, Illinois, offers replacement property investments for those participating in a 1031 tax deferred exchange, as well as opportunities for accredited investors who are seeking a real estate investment. As of July 31, 2015, the company has sponsored 174 private placement programs, which include 431 properties, with more than 23.9 million square feet of gross leasable area, for an aggregate offering price of more than $4.82 billion.