Santa Monica-based Vista Investment Group has acquired properties in Louisville, Colo., near Boulder, and Austin, Texas, for $55 million as part of a larger growth strategy.
The two purchases were separate transactions in the company’s plan to invest up to $250 million this year.

Vista has invested more than $100 million since December. Two recent acquisitions were near Portland. The company has invested $250 million in the Portland metro area since 2017.
Vista currently has a portfolio of approximately 2,000 multifamily units and 2 million square feet of commercial space.

The company is currently focused on office, flex, and research and development space outside of the Golden State, including in the Pacific Northwest and Salt Lake City.
“We have seen the supply of flex/R&D space actually shrinking in some markets, including the Denver metro,” Vista President Jonathan Barach said in a statement. “Older and functionally obsolete R&D product is getting demolished to make way for denser, mid- and high-rise developments. In many markets there is a supply/demand imbalance for the users of this space, such as life sciences, advanced manufacturing, and biotech firms.”

The Boulder-area acquisition was a property known as Link @ Louisville at 248 Centennial Parkway and 1172 W. Century Drive. The property has two single-story buildings and was 87% occupied at the time the deal closed.

Last year Vista entered the Denver market when it purchased Signature Centre, a five-story property located at 14143 Denver West Parkway, for $30.5 million. The 186,000-square-foot building was fully leased at the time of the sale.