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Phoenix & Southwest  + Southwest  | 

IRET Takes Westend MF in Downtown Denver for $129M

Westend, a 390-unit multifamily community in Denver, was acquired by Minot, ND-based IRET for $128.7 million. The 11.6-acre downtown apartment community is located at 3500 Rockmont Dr.

“This acquisition demonstrates our commitment to our strategy of adding multifamily properties, creating operational efficiencies, and deepening our presence in the Denver market,” said IRET’s Mark Decker, Jr. “As we grow our metro Denver portfolio, we continue seeking quality, well-located multifamily communities in high-demand submarkets.”

Built in 2015, Westend is a gated community located directly on downtown Denver’s park system along the Platte River, which provides direct access to Denver’s 53 acres of parks and 850-mile trail system. The 93.5%-occupied property is walkable to a variety of retailers, employers and city amenities, and is the only apartment community in downtown Denver featuring attached garages.

ARA Newmark’s Terrance Hunt and Shane Ozment represented the undisclosed 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