Inland Real Estate Expands Portfolio with Four Apartment Acquisitions
- Jan 21, 2016
Lithia, Fla.—Inland Real Estate Acquisitions Inc., has acquired four apartment communities; Circa at FishHawk Ranch in Lithia, Fla.; the Enclave at Charles Pond in Coram, N.Y.; Country Club West Apartments in Greeley, Col.; and Maple Leaf Apartments in Arvada, Col.
Inland Real Estate Acquisitions acquired 61 properties in 2015.
“I love buying properties that work for our funds and so does my staff,” Joe Cosenza, Inland Real Estate Acquisitions’ president and vice chairman of The Inland Real Estate Group, said. “As we look ahead to 2016, we will continue to search for stable properties located in desirable markets within a variety of asset classes.”
Located at 5881 Spector Road, approximately 20 miles southeast of Tampa, Circa at FishHawk Ranch consists of six three-story and one four-story apartment buildings and six three-story townhome buildings containing a total of 25 studios, 46 one-bedroom, 150 two-bedroom, 33 three-bedroom units, six townhome units and a total of 540 parking spaces.
Originally constructed in 2015, the property’s units feature 9-foot ceilings, upgraded cabinets, energy-efficient stainless-steel appliances and a washer and dryer, while select units offer balconies or porches. It also includes a resort-style pool and sun deck with cabanas, a state-of-the-art fitness center with a yoga room, an internet café, resident conference room and an outdoor pavilion and kitchen with bar, billiards, gathering room and grills.
Located at 1 Charles Pond Drive in Coram, N.Y. on Long Island, the Enclave at Charles Pond is comprised of nine three-story apartment buildings consisting of 64 one-bedroom, 36 one-bedroom with loft, 64 two-bedroom, 36 two-bedroom with loft units and a total of 407 parking spaces.
Originally constructed in 2009, its units feature nine-foot ceilings, a gourmet kitchen, a washer and dryer, private balcony or patio and, in select apartments, a gas fireplace. Community amenities include a state-of-the-art fitness center, swimming pool with sundeck, playground, clubhouse with billiard table, barbeque area and outdoor nature trail.
Located at 1001 50th Ave., approximately 49 miles from Denver, Country Club West Apartments consists of 288 units comprised of 193 one-bedroom and 95 two-bedroom units. The property also has a pool and hot tub, fitness center, computer lounge and clubhouse. The property was 97.9 percent occupied at the time of the transaction.
Located at 7010 Simms St., approximately 10 miles from Denver and 20 miles southeast of Boulder, Maple Leaf Apartments is comprised of six two-story apartment buildings containing a total of 16 one-bedroom and 55 two-bedroom units and a total of 74 parking spaces. Each unit includes 10-foot ceilings, fireplaces, stainless steel appliances, full-size washers and dryers and a balcony or patio. Community amenities include an outdoor barbeque area, 24-hour maintenance, access to nearby creeks and trails, and select units include direct access garages.