DENVER – Advenir has acquired the 326-unit Lowry Heights apartment complex in Denver for $35 million. The Class B community is located at 8000 East 12th Ave.
Property amenities include a 10,000-square-foot clubhouse with an indoor basketball court, a fitness center, movie theater, billiards, a business center and leasing center. It also includes a junior Olympic-sized swimming pool, and a splash pool and a hot tub, in addition to a playground, barbeque grill, picnic area and multiple courtyards.
The seller, The Bascom Group, made significant capital improvements to the property over the past six years. Advenir plans to further enhance the amenities and unit interiors.
Advenir represented itself in this transaction. Bascom was represented by ARA Denver. Financing was secured by Charles Foschini of CBRE.