AVANTA Residential Announces First Preferred Equity Investment for Ridgeline Vista Townhomes
24 Octubre 2024 - 10:46AM
Business Wire
AVANTA Residential is pleased to announce the successful closing
of a $10.6 million preferred equity investment for the development
of Ridgeline Vista Townhomes, marking the company's first preferred
equity investment. This significant investment underscores AVANTA's
commitment to expanding its geographic footprint in the
build-to-rent (BTR) sector with this project in Brighton,
Colorado.
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Ridgeline Vista Townhomes, Brighton, CO.
(Photo: Business Wire)
Ridgeline Vista Townhomes will include 116 high-quality town
homes to meet the growing demand in the area. Strategically located
in northeast Denver, the community will benefit from the region's
robust expansion along I-76 and its proximity to the Denver
International Airport, offering residents unparalleled convenience
and connectivity.
The developer, Republic Property Group, has a proven track
record of success, having previously developed multiple BTR
communities and nationally recognized Master-Planned Communities.
Ridgeline Vista Townhomes is Republic Property Group’s first
development project in Colorado.
The Ridgeline Vista Townhomes will feature a diverse mix of 36
two-bedroom, 56 three-bedroom, and 24 four-bedroom units, each
equipped with attached 2-car garages. In addition to the
thoughtfully designed floor plans, the community will include a dog
park, boulevard streets, open space, and professional management
that will include routine yard maintenance, enhancing the lifestyle
and convenience for residents.
“AVANTA Residential is excited to embark on this new chapter of
growth and innovation in the BTR market by leveraging the combined
strengths of the AVANTA team and joint venture partners. We are
thrilled to partner with Republic Property Group and are
continually looking to partner with other experienced sponsors to
execute BTR projects across target markets throughout the United
States,” said Peter A. Spier, President of AVANTA.
About AVANTA
AVANTA Residential is a private real estate investment company
focused exclusively on the Build-To-Rent (BTR) industry. The
Company develops, acquires and invests in BTR communities across
the United States. In addition, AVANTA invests in third-party BTR
projects and has the flexibility to structure investments with
common equity, preferred equity, and other joint venture solutions
with qualified sponsors and well-conceived projects.
AVANTA was created from the deep experience of Hunt Companies
Inc., a diversified, family-owned holding company responsible for
completing more than $8.5 billion in real estate development and
more than 70,000 single-family rental homes across the United
States, 52,000 of which are still owned and operated today. In
2021, Invesco Real Estate, a global real estate investment manager,
acquired a majority interest in AVANTA. For more information,
please visit www.avantaresidential.com.
About Invesco Real Estate
Invesco Real Estate is a global real estate investment
management business with $86.4 billion in real estate assets under
management, 607 employees and 21 regional offices across the U.S.,
Europe and Asia as of June 30, 2024. Invesco Real Estate invests
across the risk return spectrum, from core to opportunistic; in
equity and debt; listed and direct; locally and globally. Invesco
Real Estate is a business name of Invesco Advisers, Inc., an
indirect, wholly owned subsidiary of Invesco Ltd.
About Invesco Ltd.
Invesco Ltd. (Ticker NYSE: IVZ) is a global independent
investment management firm dedicated to delivering an investment
experience that helps people get more out of life. Our distinctive
investment teams deliver a comprehensive range of active, passive,
and alternative investment capabilities. With offices in more than
20 countries, Invesco managed $1.8 trillion in assets on behalf of
clients worldwide as of September 30, 2024. For more information,
visit www.invesco.com.
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Stephanie Sierra Stephanie.sierra@huntcompanies.com
915/342-4565
Invesco (NYSE:IVZ)
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