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Seattle & Northwest  + Apartments  | 

Aegon, RISE Pick Up Two Puget Sound Apartment Communities for $161M

Canadian REIT RISE Properties Trust and Aegon Real Assets US acquired a pair of multifamily properties in the Puget Sound for $161.4 million. The assets include the 366-unit Mosaic Hills Apartments in Kent, that was acquired for $81 million, and the 336-unit Colby Creek Apartments in Everett (pictured), purchased for $80.4 million.

RISE’s Beau Madsen says, “In unique ways, both properties are very well positioned for our company to execute on strategic capital investments and operational improvements.”

The most recent activity brings the joint venture’s 2019 Seattle-area acquisitions to more than $300 million, encompassing five properties. Last month the RISE/Aegon partnership acquired Linden Square Apartments in North Seattle for $52,750,000. RISE now owns roughly 4,000 units across 22 multifamily properties in the Pacific Northwest.

Berkadia’s Kenny Dudunakis, Ben Johnson and Dave Sorensen represented the seller in the Colby Creek deal. IPA’s Giovanni Napoli and Philip Assouad advised the seller in the Mosaic Hills deal. The buyer was self-represented in the deals.

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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