Village Gardens Apartments in Fort Collins sells for $26.6M

FORT COLLINS — The Village Gardens Apartments in Fort Collins has been sold for $26.6 million, according to Larimer County public records.

JRK Property Holdings in Los Angeles sold the 141-unit complex at 1025 Oxford Lane in Southmoor Village to Inland Real Estate Acquisitions Inc., the purchasing arm for various entities that are a part of The Inland Real Estate Group of Cos. Inc., based in Oak Brook, Ill.

The complex occupies 13 acres and has 12 buildings with 39 one-bedroom, 66 two-bedroom and 36 three-bedroom units. Unit features include upgraded countertops, wood-style flooring, new cabinets and updated light fixtures. Community amenities include a fitness center, dog park, fire pit with gas grills, sand volleyball court, life-size chess set and an all-season indoor pool.

As of Oct. 26, the property was 97 percent occupied.

Among its 17 multifamily holdings in Colorado, Inland Group owns The Preserve at the Meadows, Pinecone Apartments and Miramont Apartments in Fort Collins, Lake Vista and The Greens at Van de Water in Loveland, and The Solaire Apartments in Brighton.

“Our familiarity with this market and the property’s close proximity to Colorado State University, various retailers and major employers made this an attractive purchase and a prime example of the multifamily acquisitions we continue to seek out,” said Matt Tice, senior vice president of Inland Real Estate Acquisitions.

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