(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.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
