Inland Buys 200-Unit Aurora Apartment Complex
Inland Real Estate Acquisitions Inc. has purchased Arterra Place Apartments, a 200-unit multifamily property at 17036 East Ohio Drive in Aurora.
Built in 2014 on nearly 10 acres, the complex has eight three-story buildings with 112 one-bedroom, 68 two-bedroom and 20 three-bedroom units and 334 parking spaces. Each unit has nine-foot ceilings, granite countertops, a fireplace, walk-in closets, a full-size washer and dryer and a balcony with mountain views. Community amenities include a clubhouse with WiFi and a media room, a heated swimming pool, outdoor fireplaces, a 24-hour fitness center, barbecue grills, a playground and a heated pet-wash station.
The property is 96% occupied.
“Arterra Place Apartments was an attractive acquisition opportunity due to its high-quality amenities and ideal location in the highly desirable suburb of Aurora,” Inland Senior Vice President Matthew Tice said. “With more than 320,000 residents within a five-mile radius, the property provides residents with convenient access to a major interstate, as well as a choice of several highly rated schools. This property is a prime example of the types of multifamily acquisitions we continue to seek out and marks the 10th transaction we’ve negotiated and closed in the Denver metro area.”
With the Arterra deal, Oak Brook, Illinois-based Inland now has 2,234 apartment units in the Denver metropolitan area.