ADVENIR ACQUIRES LUXURY APARTMENT COMMUNITY

MANSFIELD, TEXAS — Advenir, a multifamily investor and manager, has acquired Dolce Living at Mansfield, a 334-unit, Class A apartment community in Mansfield. Advenir branded the community as Advenir@Mansfield. The seller was the original developer, which completed the community in two phases in 2012. The property features a fitness center, internet cafe and resort-style swimming pool. Advenir plans to upgrade the interiors of some units to wood flooring, as well as adding fenced backyards to some units in order to appeal to residents with pets. Each unit includes custom cabinetry, stainless steel appliances and island-style kitchens with granite countertops. Will Balthrope and Drew Kile of Institutional Property Advisors represented the seller in the transaction. Advenir was self-represented. Braden Harmon of Berkeley Point Capital secured acquisition financing.