High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Phoenix & Southwest  + Southwest  + Finance  | 

BMC Bags Denver-Area MF Portfolio for $177M

Denver-based BMC Investments and Oak Coast Properties acquired a value-add portfolio encompassing 1023 units within three contiguous properties on 45 acres in Metro Denver for $177 million. The Cherry Creek properties included Westwood Apartments (pictured), Woodhaven Apartments and Timberline Apartments, which were still owned and operated by the original developer.

NKF’s Terrance Hunt and Shane Ozment represented the undisclosed seller. The sale marked the largest number of units in a single trade, and the largest multifamily transaction by dollar volume in metro Denver since the sale of The Breakers in September 2016, according to NKF.

Originally built between 1974 and 1977, planned renovations will focus on exterior and amenity components which have not been upgraded in more than 40 years.

HFF’s Charles Halladay, Brock Yaffe and Rick Salinas arranged the 15-year, full-term interest-only $120 million in acquisition financing through Freddie Mac’s Optigo Social Impact initiative.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Connect With BMC InvestmentsConnect With NKF’s HuntConnect With HFF’s Halladay

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.

  • ◦Financing
  • ◦Sale/Acquisition
New call-to-action
New call-to-action