Canadian real estate trust buys 2 Colorado apartment complexes

DENVER BUSINESS JOURNAL - A Canadian real estate investment trust has purchased apartment complexes in Loveland and in Colorado Springs.

Milestone Apartments Real Estate Investment Trust said it's buying the 168-unit Eagle Ridge complex in Loveland and the 276-unit Talon Hill complex in Colorado Springs as part of a $242 million national six-apartment complex purchase.

Eagle Ridge, built in 1999, is 97.1 percent leased and Talon Hill, built in 2006, is 97.7 percent leased.

"This acquisition will also increase our scale as we continue to diversify our portfolio in high growth U.S. Sunbelt markets, which benefit from strong underlying demographic trends and higher than national average employment and population growth," said Robert Landin, CEO of Milestone, in a statement.

Read more at the Denver Business Journal: http://bit.ly/2eKqPsz

Copyright 2016 Denver Business Journal


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