Inland Snaps Up Denver Community
- Dec 07, 2016
by Adina Marcut
Brighton, Colo.—Solaire Apartments, a new 252-unit multifamily community approximately 20 miles northeast of the Denver central business district in Brighton, Colo., has been acquired by an Inland affiliate. Matthew Tice, senior vice president of Inland Real Estate Acquisitions, facilitated the transaction.
The property is located at 1287 S. Eighth Ave. and consists of 11 buildings with 114 one-bedroom, 108 two-bedroom and 30 three-bedroom units. Situated on one of the nation’s largest geothermal systems, Solaire Apartments uses geothermal energy for heating and cooling, according to Yardi Matrix.
“Solaire Apartments was an attractive purchase due to its unique energy-efficient capabilities and prime location within the rapidly growing northeast Denver submarket, which has a population that is projected to increase by 20,000 over the next five years,” Tice said in a statement. “Northeast Denver has experienced an approximate 41 percent growth in employment since 2009, and has several large projects underway with well-known employers like Amazon, Panasonic and Wal-Mart.”
Each unit of the property features nine-foot ceilings, a Roman tub, a full-size washer and dryer, exterior storage and a private balcony or patio. Solaire Apartments also offers amenities such as a heated swimming pool, a hot tub, a fitness center, a business center, a clubhouse and a playground. According to Yardi Matrix, the community boasted an occupancy rate of 96.4 percent as of October 2016.
Images courtesy of Yardi Matrix