Los Angeles-based Oak Coast Properties acquired Cottonwood Terrace, a 200-unit apartment community located in Colorado Springs, CO, for $37.25 million. The garden-style community is comprised of 20 buildings of two and three stories set on an 8.27-acre site.
Unit floorplans span one- and two-bedroom options and feature large open kitchens, balconies, patios, large closets, as well as wood burning fireplaces and views of Pike’s Peak in some units. Originally built in 1983, 52% of the rental units have undergone upgrades. The remaining units, still in their original condition, represent an upgrade opportunity for Oak Coast Properties.
The firm is planning a $1.5-million renovation to the community as part of a value-add investment strategy aimed at improving the marketability of the apartment units. Oak Coast Properties’ portfolio now exceeds 5,129 units under management, exceeding $1 billion in valuation.
JLL’s Jordan Robbins, Mack Nelson and Chris White represented the seller, Peak Capital Partners. JLL’s Charles Halladay, Brock Yaffe and Rick Salinas arranged the acquisition financing.
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 integrated marketing communications roles. He is responsible for Connect’s client content operations and public relations strategy. He is involved in a range of initiatives ranging from content strategy, message development, copywriting, Social Media and content marketing services.
Dennis’s communications background in the real estate industry includes working with many of the top real estate firms – from brokerage companies, developers, homebuilders, investors, owners, lawyers, asset advisors, lenders, architects and property management firms.
• Marketed more than 1 Billion Square Feet of Office Space
• 70,000 Multifamily/Condo Units
• 15,000 Single Family Homes
• 30 Million Square Feet of Retail Space
• Representing Roughly $100 Billion in Investment
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.
Dennis’s agency background on integrated communications teams at many reputable agencies and has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. He formerly was President of the Public Relations Society of America’s Los Angeles of public relations professional, and served on the Board of Directors. He also taught a public relations extension course at Loyola Marymount University.
Dennis’s 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.