Inland Private Capital Corp. (IPC) has sold The Preserve at the Meadows, a 220-unit multifamily property located in Fort Collins, Colo., for $61 million.
IPC, through its subsidiary which serves as asset manager, facilitated the sale of the property on behalf of Ft. Collins Multifamily III DST, one of IPC’s 1031 investment programs. The new owner was not disclosed.
Located at 350 Riva Ridge Drive, The Preserve at the Meadows consists of more than 12 acres of land with 10 three-story residential buildings, a clubhouse and 11 detached garage buildings. Constructed in 2002, the property features community amenities including a resort-style pool and spa, a sun deck with a lounge, grills and gas fire pit, a 24-hour fitness center, an updated clubhouse, business center, and nature trail access.
“Situated in the heart of the rapidly growing Fort Collins market, The Preserve at the Meadows provided IPC investors an opportunity to capitalize on the market’s robus
