AURORA, CO—Advenir, a premier provider ofmulti-family real estate investment and management services, hasacquired Del Arte Lofts & Flats, a 351-unitapartment community in Aurora. Advenir has acquired 3,100 apartmentunits since late 2011 in the greater Denver area.

|

The property, renamed Advenir at Del Arte, is a11.42-acre, 17-building, apartment community located at 151S. Joliet Circle in Aurora. Built in 1986, all theinterior units were recently renovated and other significantimprovements and upgrades were made. Since renovation, the propertyhas had strong leasing activity and was 93% occupied at the closeof escrow. The community features 17 studios, 217 one bedroom/onebathroom units and 117 two bedroom/two bathroom units aboutone-third of the units being loft-style townhomes. Del Artefeatures amenities such as a newly designed clubhouse with abusiness center and WiFi; barbeque areas; 24-hour fitness center;dog park; pool and hot tub; pond; and jogging trail.

|

"The greater Denver region is one of the country'stop-performing apartment markets," said ToddLinden, chief acquisition officer of Advenir. "Advenir atDel Arte is a strategic acquisition for us as it offers qualityresidences, on-site amenities, and easy access to retail, dining,and job centers. It is also located in the heart of the region'sfastest-growing employment center.”

|

Advenir at Del Arte is close to the Denver Tech Center,the Fitzsimons Medical Center Redevelopment, Buckley Air ForceBase, and Denver International Airport.Combined, these four employment hubs represent 486,000 jobs. Theasset is also less than ten minutes from the future Aurora CityCenter Station on the new Interstate 225 Light RailLine which is scheduled to open in 2016. The I-225 Linewill provide a key linkage between the Southeast RailLine, which serves the Denver Tech Center, and the EastRail Line, which is also scheduled to open in 2016 and will connectdowntown Denver directly to Denver InternationalAirport.

|

Founded in 1996, Advenir, Inc. is a real estate investmentcompany headquartered in Aventura, FL,(Miami-Dade). The company acquires and operates income-producingassets throughout the United States, on behalf of high net worthand institutional investors. Advenir has a property managementcompany with 255 employees and regional offices in Florida, Texas,and Colorado; and a construction management company focused onmultifamily development and rehabilitation.

|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.