Oak Brook, Ill. – Inland Private Capital Corporation (“IPC”), an industry leading real estate investment manager, today announced 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 as well as a swimming pool and spa, putting green, dog park, bike repair station and outdoor fireplace. As of the date of the sale, Estate at Woodmen Ridge was 93 percent occupied.
“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.
Similar to many of IPC’s previous dispositions, this transaction provided liquidity to investors, while also providing investors with the option to utilize their sales proceeds to complete a subsequent tax-deferred exchange. IPC’s current portfolio of multifamily assets spans more than $4.7 billion as of December 31, 2023.
IPC specializes in offering multiple-owner, tax-focused, private placement investments including Qualified Opportunity Zone investments throughout the U.S. Since inception, IPC has monetized more than $4.7 billion in full-cycle transactions on behalf of its investors. Currently, IPC manages a diverse portfolio of more than $12.2 billion across several asset classes spanning 43 states.
About Inland Private Capital Corporation
Inland Private Capital Corporation (IPC), headquartered in Oak Brook, IL, is a member company of The Inland Real Estate Group of Companies, Inc., an industry-leading alternative investment management firm, with an investment focus spanning across a broad range of asset types. As of December 31, 2023, the firm had sponsored 313 private placement real estate offerings, with investments and developments in the multifamily, self-storage, hospitality, healthcare, student housing, retail, corporate office, senior living, and industrial sectors. Many of IPC’s offerings have been designed for investors seeking replacement property to complete an IRS Section 1031 exchange. IPC is recognized as a leading provider of securitized 1031 exchange opportunities, with assets under management (AUM) of more than $12.2 billion, which includes a diverse national footprint of properties, spanning 43 states across various sectors. Past performance is not indicative of future performance.