DENVER, Sept. 21, 2021 (GLOBE NEWSWIRE) -- Denver-based Avanti Residential announces the acquisition of Forum Fitzsimons, a 397-unit Class A luxury apartment complex in Aurora, CO for $159 million. The purchase is part of Avanti’s ongoing nationwide investment strategy to expand its apartment holdings nationwide and brings the firm’s total acquisition volume to $630 million in the past year.
Forum Fitzsimons is a transportation oriented mixed-use development that includes 28,202 square feet of retail space and a full amenity package to serve the lifestyle needs of today’s apartment resident.
Located at I-225 and Colfax Ave., the project was built in 2017 to meet the burgeoning workforce housing demand generated by the adjacent Fitzsimons Life Science District, the major employment center in the area with 44,600 employees.
“This investment fits squarely within our criteria of assembling a portfolio of high-quality multifamily assets that deliver a first-class apartment lifestyle experience in high-growth employment markets,” said Christian Garner, president of Avanti Residential.
Avanti owns and operates approximately 8,000 apartments in Colorado, Arizona, Utah, greater Kansas City and Florida. The firm is actively acquiring core-plus and value-add apartment projects that deliver attractive risk-adjusted returns for the firm’s institutional and private capital partners.
“We believe the current economic environment presents the opportunity to acquire apartments with appealing designs and amenities in high-demand locations and where strong market fundamentals support even further growth potential,” added Garner. “These elements are all present in Forum Fitzsimons, and we’re especially pleased to be able to invest in much needed workforce housing right here in our own community.”
Forum Fitzsimons is one of just three apartment communities built in the immediate area serving the Fitzsimons bioscience hub in the last five years. The project features two resort-quality swimming pools, 24-hour fitness center, bike repair shop and storage, three premium event clubrooms, and a dog washing area and bark park. Onsite dining includes IHOP, Firehouse Subs and Sushirama, and Avanti plans to add additional food service options.
About Avanti Residential
Avanti Residential is an experienced investor and owner-operator of lifestyle-forward multifamily communities in the U.S. Founded in 2005 and headquartered in Denver, Colorado, Avanti operates a vertically integrated platform led by a seasoned executive team, each with more than 25 years’ experience in the acquisition and value creation of apartment properties. The company applies skilled real estate investment acumen in a culture of personal accountability and alignment to deliver exceptional value and attractive risk-adjusted returns for its institutional venture partners and private capital investors. AvantiResidential.com
Brittney Holbrook | 714-263-8743
brittney@ideahall.com
Randy Hall | 949-838-5238
randy@ideahall.com
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