MOTO apartments complex image via Facebook

Clovis-based IDEAL Capital Group has announced the acquisition of MOTO Apartments in the Capitol Hill neighborhood in Denver, Colorado.

IDEAL acquired the 65-unit complex on behalf of a private client by way of a 1031 tax exchange. The property is located within walking distance of the state capital building as well as the heart of downtown Denver.

The terms of the deal were not disclosed.

Constructed in 2018, MOTO is an award-winning property designed by Gensler, a world-renowned architecture firm known for its craftsmanship and attention to detail, according to a news release. MOTO also features 3,000 square feet of prime retail space.

MOTO boasts a rooftop swimming pool and spa, secure underground parking, a bicycle sharing room, designer lighting and stainless-steel appliances.

“Denver has experienced some of the highest levels of in-migration of any city in the country.” says Kevin Conway, Managing Director of IDEAL Capital Group. “Downtown Denver is home to world-class corporations and a highly educated population, and we are pleased to get enter Denver through such a stellar asset in Moto.”

IDEAL plans to own and operate MOTO on behalf of its investors for the long-term, optimizing steady, passive cash flow during the hold period, according to the release.

Berkadia’s Nick Steele represented both the seller and IDEAL.