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Atlanta & Southeast  + Southeast  + Apartments  | 

Davis-Gemini JV Divests Durham MF for Nearly $66M

The Lodge at Croasdaile Farm, a 320-unit, garden-style and townhome apartment community in Durham, NC was acquired by Virginia-based RST Development for $65.9 million. The North Durham submarket asset was sold by a joint venture between Boston-based The Davis Companies and Gemini Partners, LLC.

The property is situated on nearly 40 acres at 3130 Hillandale Rd. within the Croasdaile Farm master-planned community. Completed in 2019, the three-phase property consists of a mix of one, two and three-bedroom garden-style flats and two and three-bedroom townhome units totaling 340,160 rentable square feet. Community amenities include a resort-style saltwater pool, outdoor grilling areas, resident lounge with community kitchen and coffee bar, fitness center with yoga space, outdoor pavilion with games, private gardens and a leash-free bark park.

JLL Capital Markets’ Jeff Glenn, Andrea Howard, Allan Lynch, Caylor Mark, John Currin and Justin Good represented the seller. The buyer assumed management operations under its affiliate, Hercules Living.

For comments, questions or concerns, please contact Dennis Kaiser

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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.

  • ◦Sale/Acquisition
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