Arista Flats apartments in Broomfield fetch $191 million

BROOMFIELD — In one of the Boulder Valley’s richest multi-family housing deals of the year, the Chicago developer of the Arista Flats apartment community in Broomfield sold off the massive complex for $191 million.

Real estate investment trust AMLI Residential, through holding company PPF AMLI 8200 Arista Place LLC, offloaded the 526-unit Arista Flats complex at 8200 Arista Place to RAC Arista SPE LLC, an affiliate of Utah-based investor Millburn and Co., Broomfield real estate records show.

AMLI began construction on the community, which includes one-, two- and three-bedroom units that rent from about $1,500 to $2,300 per month, in 2007 and…