Advenir Buys 351-Unit Del Arte Multifamily

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

The property, renamed Advenir at Del Arte, is a 11.42-acre, 17-building, apartment community located at 151 S. Joliet Circle in Aurora. Built in 1986, all the interior units were recently renovated and other significant improvements and upgrades were made. Since renovation, the property has had strong leasing activity and was 93% occupied at the close of escrow. The community features 17 studios, 217 one bedroom/one bathroom units and 117 two bedroom/two bathroom units about one-third of the units being loft-style townhomes. Del Arte features amenities such as a newly designed clubhouse with a business center and WiFi; barbeque areas; 24-hour fitness center; dog park; pool and hot tub; pond; and jogging trail.