Denver Is Primary Target for Advenir in 2013

DENVER-Advenir has acquired Advenir@Stapleton, formerly Aero Flats at Stapleton, a 420-unit class A apartment community located in the Denver submarket of Stapleton, for $49.1 million.  The seller was Carmel Partners, who purchased and completely renovated the property in 2005.

Todd Linden, chief acquisition office of Advenir, tells GlobeSt.com that the greater Denver market will continue to be a primary target for Advenir in 2013. “Since June 2011, we have acquired 1,593 units with an appetite to grow our Denver portfolio to 3,000 units,” Linden says. “In 2012, metro Denver’s apartment fundamentals had their best year in more than a decade.”