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Phoenix & Southwest  + Southwest  + Apartments  | 

Oak Coast Claims Colorado Springs MF for $37M

Los Angeles-based Oak Coast Properties acquired Cottonwood Terrace, a 200-unit apartment community located in Colorado Springs, CO, for $37.25 million. The garden-style community is comprised of 20 buildings of two and three stories set on an 8.27-acre site.

Unit floorplans span one- and two-bedroom options and feature large open kitchens, balconies, patios, large closets, as well as wood burning fireplaces and views of Pike’s Peak in some units. Originally built in 1983, 52% of the rental units have undergone upgrades. The remaining units, still in their original condition, represent an upgrade opportunity for Oak Coast Properties.

The firm is planning a $1.5-million renovation to the community as part of a value-add investment strategy aimed at improving the marketability of the apartment units. Oak Coast Properties’ portfolio now exceeds 5,129 units under management, exceeding $1 billion in valuation.

JLL’s Jordan Robbins, Mack Nelson and Chris White represented the seller, Peak Capital Partners. JLL’s Charles Halladay, Brock Yaffe and Rick Salinas arranged the acquisition financing.

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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