ARA Newmark Brokers $61M MF Sale in Raleigh, NC

Baltimore-based Continental Realty Corporation acquired The Edison Lofts, a 223-unit, multi-housing community located in Raleigh, NC from Cleveland, OH-based NRP Group for $61 million. The transaction is Continental’s inaugural multifamily acquisition in the greater Raleigh region, and at $273,543 per-unit, set a mid-rise per-unit pricing record for the Raleigh-Durham MSA.

The off-market sale of the newly-constructed, Class A asset was brokered by ARA Newmark Company’s Sean Wood. “Edison Lofts is an incredibly well-located asset, that is poised to benefit from much of downtown’s growth,” noted Wood.

Constructed in 2016, The Edison Lofts offers the largest floorplans and one of the most expansive amenity packages in the submarket. The property, located at 131 E. Davie St., includes the largest pool and pool deck in the downtown market, as well as one of the largest fitness centers with state-of-art equipment.

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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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ARA Newmark Brokers $61M MF Sale in Raleigh, NC

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National CRE News In Your Inbox.

ARA Newmark Brokers $61M MF Sale in Raleigh, NC

Inside The Story

About Dennis Kaiser