WESTMINSTER — A pair of investment firms recently traded The Vintage at Hyland Hills, a 472-unit apartment community in Westminster, for $120.1 million.

The Vintage at Hyland Hills Investor LLC, a UBS Realty Investors LLC holding company, sold the property to IMT Capital V Hyland Hills LLC, an affiliate of California-based real estate investment firm IMT Capital LLC, according to Adams County public records.

The apartment complex at 4901 W. 93rd Ave, which was built in 1994 and features one- and two-bedroom units, has been rebranded IMT Hyland Hills.

The sale was financed in part by a seven-year, $74.7 million Freddie Mac loan provided by CBRE Capital Markets, public records show. 

The apartment complex last sold in 1997 for $38.5 million.

IMT Capital announced in July it has closed on its fifth multi-family investment fund, known as Fund V.

Investors in the $820 million fund include university endowments, foundations, pension funds, and high net worth individuals.

“Fund V will invest opportunistically in multifamily properties located in major U.S. markets with a combination of a value-based investment philosophy, prudent financing, and in-house operational expertise,” according to the IMT Capital announcement. “The strategy is designed to deliver superior risk-adjusted investment returns independent of economic cycles.

IMT Capital has been active in the Colorado multi-family residential market in the past. The company sold its IMT Alameda Station property in Denver earlier this year for nearly $110 million. IMT Capital still owns apartment communities in Denver’s Cherry Creek and City Park neighborhoods.