October 31, 2019
Highlands REIT Purchases Apartment Complex Near University of Denver
On October 24, 2019, Highlands REIT, Inc., through The Muse Owner, LLC, a wholly-owned subsidiary of the REIT, completed the purchase...

Highlands REIT Purchases Apartment Complex Near University of Denver

October 31, 2019 | James Sprow | Blue Vault

On October 24, 2019, Highlands REIT, Inc., through The Muse Owner, LLC, a wholly-owned subsidiary of the REIT, completed the purchase of certain real property and improvements located at 2270 South University Boulevard, Denver, Colorado, for a gross purchase price of $48.7 million, exclusive of closing costs. The seller is not affiliated with the Company. 

Built in 2018, the property features 120 units, of the following types: One Bedroom, One Bedroom/Alcove, Studio, Two Bedroom/One and Three Quarter Bath, Two Bedroom/One Bath, Two Bedroom/Two and One Half Bath, Two Bedroom/Two Bath, totaling 103,628 Sq. Ft. The property is located across University Blvd. from the University of Denver campus. 

Highlands REIT is a nontraded REIT that was spun off from InvenTrust Properties in 2016. The REIT is not currently paying distributions and had an estimated NAV per share as of December 31, 2018, of $0.35. As of June 30, 2019, the Company owned 18 assets and one parcel of unimproved land. As of December 31, 2018, the Company owned 15 assets and two parcels of unimproved land. During the six months ended June 30, 2019, the Company acquired four multi-family assets for a gross acquisition price of $54.7 million. During the same period, the REIT disposed of land in North Carolina and Lincoln Center in Lincoln, Rhode Island, for a total disposition price of $56.35 million.

Sources:  SEC, Blue Vault, Trulia

Recent

Shorehaven Mixed-Use Development Tops Out in Tempe

Shorehaven Mixed-Use Development Tops Out in Tempe

Cantor Fitzgerald and Silverstein Properties mark a milestone with Shorehaven, a new luxury mixed-use project on Tempe Town Lake, featuring residential units, retail, and community amenities for a premier waterfront experience.

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now