Advenir At Saddle Rock Sells For $72.2M
The new owners of the complex, developed in 2002, plan to make substantial capital investments to the property to enhance the tenant experience and keep it well-positioned in a competitive market.
“We are very excited to acquire an asset with such tangible value-enhancement opportunities,” Origin Investments Director of Acquisitions Thomas Briney said. “Through the commitment of material capital improvements to refresh the complex, we believe there is great long-term potential to elevate the positioning and stature of this community.”
At 22959 East Smoky Hill Road, Advenir at Saddle Rock has 96 one-bedroom, 116 two-bedroom, 88 three-bedroom and 20 four-bedroom units in a series of 13 three-story buildings. Units range from 855 SF to 1,481 SF. Average rents at Advenir, which is 95% leased, range from $1,121 to $1,984.
Amenities at the complex include a large clubhouse with a resort-style pool with a fountain and cabanas, an outdoor kitchen and grill, a tanning bed, a fitness center and basketball court, a putting green and a community movie theater.