Inland Real Estate Investment Corp., a real estate investment manager, has announced the sale of Solaire Apartments, a 252-unit multifamily community located in Brighton, Colo.
In 2016, Inland Private Capital Corp. (IPC) acquired Solaire Apartments on behalf of Brighton Multifamily DST (Delaware Statutory Trust). The sale resulted in a realized net equity multiple to investors of 1.6x.
Constructed in 2013 and located at 1287 S. Eighth Ave. in Brighton, Solaire Apartments consists of approximately 16.38 acres of land with 11 three-story residential apartment buildings and a single-story clubhouse building. The community features luxury amenities, including a fully equipped 24-hour fitness center, a resort-style pool with a hot tub and lounge area, outdoor barbecue grilling stations, a fire pit, a dog park and playground area. The property also sits on one of the largest geothermal energy systems in the nation, saving residents on heating and cooling charges.
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