TruAmerica Multifamily purchased WestLink at Oak Station, at 1665 Pierson St., in Lakewood, for $71.5 million. The Denver Business Journal reports the seller was the Inland Real Estate Group of Cos. Inc. The company had previously acquired the apartments for over $63 million in 2016.
The acquisition boosts TruAmerica’s Colorado portfolio to over 4,200 apartments across the 15 properties it owns and manages in the state.
The company will renovate the interiors of all 244 units. The garden-style apartment community was built in 2015.
Amenities at the community include a pool and hot tub, fitness and business centers, and a clubhouse.
The acquisition was facilitated by CBRE’s Denver Multifamily team, which was led by Shane Ozment and Terrance Hunt. Debt financing was arranged by CBRE’s Debt and Structured Finance group led by Ryan Greer and Troy Tegeler.
Overall, TruAmerica owns and operates a portfolio of 65,000 units in 20 states.
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