Avanti Residential acquires Forum Fitzsimons apartment complex in Metro Denver
397-unit Forum Fitzsimons apartments serves the high demand for healthcare and professional workforce housing adjacent to a sprawling 578-acre integrated bio science complex and primary employment center in the Aurora, CO submarket
Denver, Co. – September 20, 2021 – Avanti Residential announces the acquisition of Forum Fitzsimons, a 397-unit Class A luxury apartment complex in Aurora, CO for $159 million. 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 area apartment residents.
“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.
Located at I-225 and Colfax Ave., the project was built in 2017 to meet the burgeoning healthcare and professional workforce housing demand generated by the adjacent Fitzsimons Life Science District, the major employment center in the area with 44,600 employees.
Forum Fitzsimons is one of just three apartment communities built in the immediate area serving the Fitzsimons bioscience hub in the last five years. Onsite dining includes IHOP, Firehouse Subs and Sushirama, and Avanti plans to add additional food service options.
With spacious studio, one- and two-bedrooms floorplans ranging from 568 square feet to 1,277 square feet, Forum Fitzsimons residents enjoy luxury living with 10- to 12-foot ceilings, granite and quartz countertops, smart home technology and full-sized washers and dryers in each apartment.
Avanti owns and operates approximately 8,000 apartments in Colorado, Arizona, Utah, greater Kansas City, and Florida. The firm is actively acquiring high-quality apartment projects with deign aesthetics and amenities that meet the lifestyle needs of today’s apartment residents.
“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 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 healthcare workforce housing right here in our own community.”