Phoenix & Southwest + Southwest + Apartments | November 17, 2020

Oak Coast Boosts Denver Multifamily Portfolio

Oak Coast Properties acquired the Retreat at Water’s Edge, a 252-unit apartment community in Denver, from Griffis Blessing for $54.5 million. The multifamily community is situated southeast of Downtown Denver at 9999 E. Yale Ave.

Oak Coast Properties’ Phil Nahas says, “Retreat at Water’s Edge is an ideal purchase for us as it’s a quality-built community with significant CapEx improvements made to it by the previous owner.” The company is planning to invest $2.2 million in renovations aimed at improving the marketability of both units and amenities.

Originally built in 1985, the property has six buildings over underground parking. The community features a suite of shared amenities including package delivery lockers, a business center and community room, outdoor pool and spa, clubhouse and water features.

Newmark’s Terrance Hunt and Shane Ozment represented the seller. JLL Capital Markets’ Charles Halladay, Brock Yaffe, Rick Salinas and Matt Cimino arranged a $38.15-million Freddie Mac Optigo acquisition loan on behalf of the buyer.

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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.

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