(Save the date: RealShare Apartments East comes to the Hyatt Regency Miami, Florida on February 26th, 2013)
DENVER-Aventura, FL-based Advenir Inc. has purchased Aero Flats, an apartment community here in Denver, for $39.28 million. The 420-unit community comprises two buildings on 7.91 acres. CBRE Capital Markets arranged the financing on behalf of the buyer.
According to a prepared statement, CBRE secured an “aggressive rate” on behalf of Advenir, at the 10-year treasury yield, a maximum loan-to-value ratio of 80% and a 120 month term to maturity. The amortization schedule is 24 months interest-only followed by 360 months.
Vice chairman Charles Foschini, vice chairman Christian Lee, and vice president Christopher Apone of CBRE’s institutional group in South Florida secured financing on behalf of the borrower through Freddie Mac. The loan was secured in conjunction with the Colorado and Newport Beach offices.
Amenities on the property include a club house, movie theater, fitness center, resort style pool, BBQ and picnic tables, internet lounge, covered parking and on-site laundry.
Advenir and its subsidiary Advenir Real Estate Management Inc. own and manage a total real estate portfolio valued at over $350 million.