Advenir Acquires Another Denver-Area Apartment
- Sep 21, 2015
Aurora, Colo.—Advenir has acquired Del Arte Lofts & Flats, a 351-unit apartment property in Aurora, Colo., a major suburb of Denver. The company is re-branding the community Advenir at Del Arte.
Advenir at Del Arte is a 17-building property on about 11.4 acres at 151 S Joliet Circle. Built in 1986, all the interior units were recently renovated, and other improvements and upgrades were also made. Since renovation, the property has had strong leasing activity, according to Advenir, and is now about 93 percent occupied.
The property features 17 studios, 217 one bedroom/one bathroom units, and 117 two bedroom/two bathroom units. About one-third of the units are loft-style townhomes. Common amenities include a newly designed clubhouse with a business center and Wi-Fi; barbeque areas; 24-hour fitness center; dog park; pool and hot tub; pond; and jogging trail.
Florida-based Advenir is no stranger to the metro Denver market. The company has acquired about 3,100 apartment units in the greater Denver area since late 2011, and continues to actively expand its portfolio there.
“The greater Denver region is one of the country’s top-performing apartment markets,” explained Todd Linden, chief acquisition officer of Advenir. As for Advenir at Del Arte, he noted that it’s located in the region’s fastest-growing employment center, which includes the Denver Tech Center, the Fitzsimons Medical Center redevelopment, Buckley Air Force Base and Denver International Airport.