Steadfast Apartment REIT, an affiliate of Irvine-based Steadfast Cos., has acquired a 222-unit apartment complex in Colorado for $44.2 million.

PeakView by Horseshoe Lake in the Fort Collins area is the fifth property the real estate investment trust has acquired in the Centennial State, bringing its total investment to $1.2 billion among 29 apartment properties in 11 states.

PeakView, which was built in 2002 on 14 acres, is a 90% occupied garden-style community that offers one-, two- and three-bedroom homes with average monthly rents of $1,338.

Steadfast Apartment REIT has raised about $325 million from investors.