The Milestone Group Expands Portfolio with Strategic Intermountain Region Acquisitions
The landscape of the multifamily apartment industry continues to evolve with strategic acquisitions that signal both growth and innovation. Reflecting this trend, The Milestone Group has recently expanded its portfolio with two significant Class A acquisitions in the Intermountain region: Bucking Horse Apartments in Fort Collins, Colorado, and Prelude at Paramount in Meridian, Idaho. While the purchase prices remain undisclosed, the intrinsic value of these acquisitions can be gleaned from the characteristics and potential of each property.
Bucking Horse Apartments, situated within a master-planned community, boasts highly sought-after amenities and convenient access to regional employment centers. Rich Ritter, Milestone’s Vice President of Acquisitions, highlighted that “The Fort Collins market is characterized by strong fundamentals for growth, high barriers to entry, and 95% market occupancy with limited supply in the pipeline.” This context provides a solid backdrop for investment, underscoring the desirability and anticipated appreciation of the property.
Coupled with this, Fort Collins is witnessing substantial capital investment, bolstering job creation with projects like Marvel Fusion’s laser research facility and a sizable Amazon robotics facility. These developments, alongside expansions at Colorado State University and the USDA facility, anchor the region’s position as a burgeoning hub for technology and education.
Prelude at Paramount offers a complementary narrative with significant future enhancement potential. As Ritter points out, “Acquiring the asset at a basis well below replacement cost creates an attractive entry point that, when combined with our value-enhancement business plan, positions the property to capture long-term demand and appreciation.” Meridian’s exponential growth and status as a technology and healthcare hub further augment the appeal of this asset.
Each acquisition is unique in its community integration. Bucking Horse Apartments, designed to foster neighborhood living, intermingles with comparably priced single-family homes, presenting a compelling option in a richly amenitized context. Prelude at Paramount reflects modernism with smart home technology and a resort-style setting, responding to the evolving preferences of today’s renters.
These acquisitions reiterate the growing influence of domestic migration and job growth in shaping multifamily housing trends. They exemplify The Milestone Group’s strategic approach to investing in markets poised for long-term vitality and underscore the underlying strength and appeal of the multifamily sector. As the economy and population dynamics of the Intermountain region continue to evolve, properties like Bucking Horse Apartments and Prelude at Paramount will likely play integral roles in meeting the housing demands of their respective communities.