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Florida & Gulf Coast  + Florida  + Apartments  | 

Passco Makes Another Major MF Move in Florida

FINAL Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.

Passco Companies acquired Ocean Walk Apartments, a 297-unit multifamily community in Key West, FL for $101.5 million, the largest single-asset transaction in the Irvine, CA-based firm’s history. The seller was a partnership between Mast Capital and Rockpoint Group.

Passco’s Colin Gillis notes the property is one of only three professionally-managed multifamily communities in the high barrier-to-entry Key West market, representing nearly half of the multifamily supply on the entire island.

Located on the Atlantic side of the island at 3900 South Roosevelt Blvd., Ocean Walk is located near the beach, a diverse variety of restaurants, retail, entertainment hubs in downtown and the Key West International Airport.

ARA Newmark’s Hampton Beebe represented both parties in the transaction. KeyBank Real Estate Capital’s Chris Black and Caleb Marten arranged acquisition financing through Fannie Mae.

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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