Inland Private Capital Corp. (IPC) announced the $108.9 million sale of two multifamily properties, Miramont Apartments ($57.3 million) and Pinecone Apartments ($51.6 million), both located in Fort Collins, Colo. IPC, through its subsidiaries that serve as asset managers, facilitated the sale of the properties on behalf of Ft. Collins Multifamily Portfolio DST, one of IPC’s 1031 investment programs.
The sale resulted in a total return to the investors of 166.29 percent (calculated based on the aggregate amount of original capital invested in the properties).
Miramont Apartments is a 210-unit property located at 4900 Boardwalk Dr. and consists of more than 12 acres of land with 15 three-story residential buildings and detached garages. Pinecone Apartments is a 195-unit property located at 2212 Vermont Dr. and consists of more than 11 acres of land with 13 three-story residential buildings and detached garages. Each property’s amenities include a heated swimming pool
