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Knightvest Acquires Shade at Desert Ridge for $87M

Dallas-based Knightvest Management acquired Shade at Desert Ridge from an affiliate of Canada’s The Ergas Group for $87 million. The 342-unit apartment property is located at 21150 N. Tatum Blvd. in Phoenix.

The 14-building complex totals 354,642 square feet spread across nearly 14 acres encompassing two- to four-story buildings that were built in 2006. Floor plans include one- to three-bedroom configurations. Units include a balcony or patio, bathrooms with Roman tubs or showers and cultured marble counters and master bath double sinks, hardwood floors, pear wood veneer cabinetry, built-in computer desks and vaulted ceilings.

Community amenities include a resort style pool, spa, state-of-the-art fitness center, yoga room, spin bike room, built-in fire pit and lounge, grilling stations, attached garages and a dog park.

CBRE Capital Markets arranged $61,671,000 in new Freddie Mac debt for the deal.

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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.

  • ◦Financing
  • ◦Sale/Acquisition
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