Camden Acquires Recently-Constructed Florida MF for $90M
Houston-based Camden Property Trust completed the acquisition of a recently-constructed 299-home apartment community in Orlando for roughly $90 million. The community, formerly known as 420 East, is a nine-story downtown high-rise built in 2016 by McLean, VA.-based Jefferson Apartment Group. The property will be renamed Camden Thornton Park.
The asset features a fourth floor pool and amenity deck, 24-hour concierge, retail space and a three-story parking garage. Located within the highly desirable Thornton Park Neighborhood, the property is walkable to many downtown office buildings, Lake Eola Park and several popular entertainment venues.
Camden’s Richard J. Campo says, “We believe the purchase price is 5-10% below current replacement cost, and the acquisition will produce a stabilized yield of approximately 5%.”
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.
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