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Buchanan Street Snags Colorado Springs MF for $73M

Newport Beach, CA-based Buchanan Street Partners closed the $72.5 million purchase of Creekside at Palmer Park, a Class A, 328-unit apartment project located in Colorado Springs, CO. It was Colorado Springs’ largest single property multifamily sale by number of units last year.

The 95%-occupied asset includes 16 buildings, totaling 325,700 rentable square feet on 19.71 acres. Creekside was originally built in 2003 by Griffis Blessing, which has owned and managed the property since the completion. Creekside is ideally-positioned along State Hwy 21 in the Powers Corridor, a major North-South thoroughfare providing access to nearby employment centers.

CBRE’s David Potarf and Jake Young represented Griffis Blessing in the transaction, while Buchanan Street was self-represented.

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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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