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Seattle & Northwest  + Oregon  + Retail  | 

Greystar Grabs 273-Unit MF in Portland’s West End

Charleston, SC-based Greystar Real Estate Partners, LLC acquired the 273-unit Indigo at Twelve West in Portland, OR on behalf of its real estate funds. Developed by Gerding Edlen, the Class A property is located at 430 SW 13th Ave., and is one of the market’s premier multifamily mixed-use assets.

Greystar said the deal represented a compelling opportunity to acquire a best-in-class, highly amenitized mixed-use multifamily asset in the city’s affluent West End submarket. Greystar’s Kevin Kaberna says, “We were able to purchase this property at a discount to replacement cost, and we believe our plan to reduce controllable expenses and refresh the interiors will allow us to maximize the property’s tremendous potential and capitalize on what we expect will be a supply shortfall in the area through 2020.”

Completed in 2009 to LEED Platinum standards, the property also has 86,000 square feet of creative office space and a 10,000-square-foot retail component, both of which are fully leased.

JLL’s Buzz Ellis, Paige Morgan, Adam Taylor, Mark Washington, David Young and Corey Marx led the multifamily sales team.

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.

  • ◦Sale/Acquisition
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