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Aurora Townhome Community Flips for $23M
Florida-based Advenir sold a 94-unit townhome community in Aurora for $23 million to Stratford Partners. The units are located at 11135 E. Alameda Ave. They were most recently known as the Del Arte Townhomes. The Denver Business Journal reports the name is being changed again, this time to Alder Peak Townhomes.
CBRE arranged a $15.44 million acquisition loan for Stratford Partners. CBRE’s Shane Ozment, Terrance Hunt, Andy Hellman and Justin Hunt in Denver facilitated the sale of the community.
The property was built in 2001. It includes eight two-story buildings on 6.57 acres. The townhomes average 1,096 square feet and feature one—or two-bedroom floor plans equipped with washers, dryers and attached garages. Rent for the units ranges from $1,640 to $1,790.
The sale marks the second time Advenir has sold a multifamily property in Aurora this month. BMC Investments recently purchased another property, Advenir Del Arte, at 151 S. Joliet Circle, for $70.5 million.
- ◦Sale/Acquisition
