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KBS Legacy Partners Divesting Entire 3K-Unit MF Portfolio

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KBS Legacy Partners Apartment REIT Inc., a publicly registered non-traded real estate investment trust sponsored by Newport Beach, CA-based KBS Capital Advisors and affiliates of Foster City, CA-based Legacy Partners Residential Realty, is divesting an 11-property multifamily portfolio. The properties were originally purchased between 2010 and 2014 for an aggregate purchase price of $412 million.

The portfolio totals more than 3 million square feet and encompasses garden-style and mid-rise communities with an overall occupancy rate of roughly 95%. The assets are spread across seven states in the Midwest, South, East Coast and Southwest.

Holliday Fenoglio Fowler (HFF) is handling the sale of the 3,039-unit portfolio, which can be purchased in its entirety, as a subset of pooled assets, or individually.

Read More at The DI Wire

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Inside The Story

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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