PHILL FOSTER AND COMPANY

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Multifamily community trades for $37.25M

18 October 2015

A Miami-based real estate company grew its multifamily presence in Colorado with its acquisition of a Colorado Springs community with an “unmatched” location in the city.

Advenir Inc. paid $37.25 million, according to public records, for Sunset Creek, a 310-unit community located near Colorado Springs’ fastest growing developments.

The location is at the epicenter of everything that is new and exciting in Colorado Springs, the community at 5400 N. Nevada Ave. The University of Colorado, Colorado Springs, the fastest growing campus in Colorado, is just across the street and the busiest retail center in town, which includes Costco and Trader Joe’s, is next door. A new hospital is under construction to the north and the property backs up to the Santa Fe Trail system.

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