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Prior to acquisition, Vistas at Plum Creek offered strong intrinsic qualities—walkable access to downtown Castle Rock, mountain views, and a well-rounded amenities package—but was held back by dated unit interiors and ineffective management. The result was a property that underperformed its potential despite a desirable location and growing demand.

Since acquiring the community in 2016, IMG has executed a $3.8 million capital improvement plan to reposition the asset and enhance long-term value. Early improvements focused on exterior repairs and curb appeal, including roof, siding, and window replacements and new outdoor amenities such as a pergola and BBQ area. In subsequent years, ownership directed capital toward landscaping, asphalt resurfacing, mechanical system upgrades, and a full remodel of the clubhouse and fitness center in 2025.

Over the first 2.5 years, the property delivered 7.3% average cash-on-cash returns, prompting the ownership group to extend the hold period and execute a strategic refinance in 2018, returning $3 million of equity to investors. Since the refinance, Vistas has continue to outperform, building substantial equity from the original $23.9 million acquisition price.

The result is a fully stabilized, professionally managed community that delivers quality housing at attainable rent levels in one of metro Denver’s fastest-growing and most supply-constrained submarkets. Vistas at Plum Creek now stands as a prime example of value creation through thoughtful stewardship and disciplined execution—a compelling opportunity for investors seeking durable performance and long-term upside.