Inland Closes Colorado Springs MF Sale

Oak Brook, Illinois-based Inland Private Capital Corporation (“IPC”) closed the sale of the Estate at Woodmen Ridge Apartment Homes in Colorado Springs, Colorado. IPC, through its subsidiaries which serve as asset managers, facilitated the sale of the property on behalf of Colorado Springs Multifamily DST, one of IPC’s 1031 investment programs.

The sale resulted in an equity multiple to investors of 1.4x, (calculations are based on the aggregate amount of original capital invested in the property). Estate at Woodmen Ridge, located at 5520 Woodmen Ridge View, consists of 260 units across 13 residential buildings. The property features a clubhouse with a fitness center, theater room, game room and business center, and swimming pool.

“We purchased the property in 2017, and through proactive asset management, the portfolio generated annual cash flow, plus a profit on sale, resulting in a 6 percent internal rate of return to investors,” said Keith Lampi, president and chief executive officer of IPC.

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