Inland Amercian Bags Denver Student Housing
Inland American Communities kicked off 2015 with the acquisition of the former Asbury Green (rebranded as University House), just a block away from the University of Denver's 125-acre campus. IAC president Travis Roberts (here with his kids, 10-year-old Peyton and 6-year-old Parker) says IAC--the student housing arm of Inland American REIT--has been in growth mode with plans to acquire between $200M and $300M this year, in addition to completing the handful of development projects in the works.
The five-story, 355-bed apartment property (which is LEED Gold certified) was recently updated with a clubhouse, rec center, billiards game room and 24-hour fitness center. This project fits IAC's MO well, Travis says. It's a Class-A, purpose-built student housing project that's close to campus. The University of Denver is a little smaller than IAC's average student population of about 33,000 students, but there are only so many ASUs and University of Michigan campuses around. Also, this project is one of a few student housing projects in the area. CBRE repped IAC in the Denver deal.
