JLL Income Property Trust has bought The Preserve at the Meadows, a garden-style apartment community in Fort Collins, Colo. The purchase price was approximately $61 million and brings the portfolio's total residential allocation to nearly $1.8 billion, or 41 percent of total assets.
"This addition to our growing residential portfolio fits extremely well with our strategy to invest in well-located communities with strong demand drivers and high barriers to entry for new competition," said Allan Swaringen, JLL Income Property Trust president and CEO. "Given its proximity to Colorado State University and the Denver metro area, we believe The Preserve will continue to see growing tenant demand and higher occupancies, making this an attractive long-term investment for our diversified portfolio."
Located 50 miles north of Denver along I-25, Fort Collins is the No. 3-ranked market by LaSalle Research & Strategy on its most recent Small Apartment Market Analysis, owing to
