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Blackstone’s LivCor Divests Memphis MF

Coastal Ridge Real Estate, in partnership with H. Katz Capital, paid $56.6 million for The Preserve at Forest Creek, a 414-unit apartment community in Memphis, TN. The Class A apartment community, located at 9230 Thornbury Blvd.,was acquired from LivCor, a wholly-owned subsidiary of Blackstone.

Built in 2008, The Preserve at Forest Creek offers 108 one-bedroom/one-bathroom units, 246 two-bedroom/two-bathroom units and 60 three-bedroom/two bathroom units … with monthly rents ranging from $929 to $1,518. The community features a spacious clubhouse with a bar, heated swimming pool, an indoor sports court, state-of-the-art fitness center, lighted tennis court, playground and detached garages.

This marks Coastal Ridge’s first acquisition in Tennessee and 17th acquisition in partnership with H. Katz Capital. ARA’s Blake Pera represented the seller.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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