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Phoenix & Southwest  + Apartments  | 

FCP Enters Phoenix Market via $72M MF Acquisition

Los Angeles-based Tides Equities LLC brought a new equity partner for the $71.5 million acquisition of Tides at South Tempe. Chevy Chase, MD-based FCP bought the 442-unit apartment community in Tempe through a JV with Tides Equities. The acquisition marks FCP’s first investment in Arizona as the company continues to expand its national footprint.

FCP’s Bart Hurlbut says, “FCP has been seeking the right opportunity to invest in the Phoenix area and Tides at South Tempe provided us with an opportunity to invest with an established partner in this market.”

Tides at South Tempe is located close to Superstition Freeway and Interstate 10 at 4130 S. Mill Ave. The 95%-occupied community features studio, one- and two-bedroom units with luxury touches including hardwood flooring, quartz countertops, stainless steel appliances and balconies or patios.

CBRE’s Brian Eisendrath arranged the debt through Truist.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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