DENVER, CO – Inland Real Estate Acquisitions, Inc. announced today that it negotiated and helped close the buy of Black Feather Apartment Homes, an 83-unit multifamily property located in Castle Rock, Colorado, a southern suburb of Denver.

Matthew Tice, senior vice president of Inland Real Estate Acquisitions, Inc., facilitated the transaction, with help from David Neboyskey, assistant vice president and associate counsel of The Inland Real Estate Group, LLC, Law Department, on behalf of an Inland affiliate.

Located directly off I-25 in a major retail corridor of Castle Rock, the property was recently constructed in 2016 and features a mix of townhome, three-tale walk-up apartments and owned condominium units. The transaction consisted of 48 two-bedroom, 32 three-bedroom and three four-bedroom apartments with 49 detached and 28 attached garages and 131 open parking spaces. Each unit at Black Feather Apartment Homes features nine-foot ceilings, stainless steel appliances, granite countertops and a full-size washer and dryer. The property also provides residents with access to a community swimming pool, clubhouse and barbecue areas.

“Black Feather Apartment Homes’ prime location places residents just a small drive from Denver or Colorado Springs and within close proximity to a variety of retail destinations,” said Tice. “Due to its high-end, condominium-quality finishes combined with convenient access to a major interstate, this property was an attractive acquisition opportunity and is an example of the type of multifamily properties we continue to seek out.”

As of August 1, 2017, the property was 96.4 percent occupied.

This transaction marks Inland Real Estate Acquisitions, Inc.’s 15th multifamily acquisition in Colorado. To date, Inland Real Estate Acquisitions, Inc. has facilitated more than $44 billion of buys including apartments, single-tenant properties, medical office buildings and retail properties.

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EL PASO, TX – Hunt Companies announced that it has successfully closed on an agreement with Pennrose Properties to buy a minority interest in the Pennsylvania-based firm.

As part of this transaction, Hunt will secure a long-term interest in Pennrose’s future development activities while Pennrose assumes responsibility and oversight for a substantial portfolio of projects in Hunt’s pipeline.

“This agreement expands the working relationship between Hunt and Pennrose,” said Hunt’s CEO, Chris Hunt. “We are looking forward to combining our abilities and expertise to further grow our portfolios and continue to serve our partners in mixed-income housing projects.”

Pennrose Properties, LLC and Hunt Companies, Inc. are both privately-held firms with expertise in multifamily affordable and mixed-use public private partnership development projects across the U.S. Collectively, the firms, including their affiliate companies, are responsible for more than 300 mixed-finance/mixed-income projects touching more than 40,000 units of housing across the U.S.

Hunt and Pennrose will each continue development activities on all current projects as negotiated with entities across the U.S. The partnership will look to apply its combined capabilities on new opportunities.

“This new partnership between Pennrose and Hunt will allow us to maintain focus on the relationships and projects already in our pipeline and support expanding the Pennrose mission,” said Richard K. Barnhart, Chairman and CEO of Pennrose Properties. “Together, Hunt and Pennrose will continue to deliver the expertise, vision, and operational excellence which transform communities.”

Founded in 1947, Hunt Companies, Inc. is today a holding company that invests in business focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investees include investment management, mortgage banking, direct lending, loan servicing, asset management, property management, development, construction, consulting and advisory.

With more than 40 years of experience, Pennrose combines quality development and proven management to deliver exceptional lifestyle-centered communities for its residents. With the superior knowledge and unparalleled dedication to get the job done right, Pennrose develops and operates both conventional and affordable communities throughout the eastern half of the United States.

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SAN FRANCISCO, CA – 923 Folsom is redefining city living. The recently completed apartment building offers renters the finishes a discerning buyer would require, along with amenities previously reserved for much larger buildings — all in a community of only 115 rental residences.

“The result is a boutique rental community offering the quality, comfort and sense of home often found only in condominiums, with thoughtful shared spaces that substantially extend the walls of your well-designed residence,” said Billie LaBelle, Vice President of Operations for Alliance Residential Company, which professionally manages the community. “923 Folsom leaves the need to buy a house at the door.”

Every emphasis is given to cultivating an elevated resident experience. It starts with the double-height, feature bookcase that sets the tone for the community as you enter and flows throughout the many impressive spaces that add to each resident’s livable, usable square footage.

The workshop space calls out to makers and doers looking for a garage-like space that few urban residences can deliver. From fixing a bike to assembling a drone, this is your space to make — and it comes with all the comforts one would expect at home, such as an array of tools and a fridge to keep drinks cold.

A dedicated co-working hub delivers an area with collaborative group-seating and individual workstation booths (featuring USB and traditional outlets), complimentary WiFi and a printer/scanner that residents can connect to via Bluetooth on their mobile device. This area is rentable or available on a first-come/first-serve basis. The “Paws & Pedals” wash station is the perfect place to hose off your bike or your furry friends. Perched atop the building is a 7,000-square-foot rooftop deck with fireplace, gas grills and unobstructed southern exposure (perfect for sunrise and sunset yoga with a view). Not to be overlooked are the modern gym with high-performance equipment and the resident lounge and espresso bar.

Inside the residences, you’ll find each studio, one- and two-bedroom floor plot was attentively designed with a range of features distinguishing between them, allowing residents to select the home that suits them best — from ground-floor apartments with expansive patios to the singular penthouse with its own private rooftop terrace. Nearly every home offers floor-to-ceiling windows with roller shades to maximize views of SoMa, while GE stainless steel appliances, wood-style plank flooring, custom cabinetry with under-cabinet lighting and quartz countertops, drop-in cooktops, washers and dryers, and walk-in glass showers are just a few of the high-end finishes that 923 Folsom has made a standard.

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