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Atlanta & Southeast  + Southeast  + Finance  | 

Passco Picks Up MF in Affluent Kentucky MPC for $62M

California-based Passco Companies acquired The Henry at Fritz Farm, a 306-unit, Class A+ multifamily community in Lexington, KY, from Birmingham, AL-based Dobbins Group for $62.4 million. The property is within one of the Southeast’s leading entertainment and retail districts, The Summit at Fritz Farm.

Developed by Bayer Properties, the highly-walkable, mixed-use, master-planned community features more than 280,000 square feet of Class A+ retail with a mix of local, regional and national tenants. Completed in 2017, The Henry features a mix of one-bedroom, two-bedroom, and three-bedroom flats with modern design elements.

Passco’s Colin Gillis says, “The property has one of the most affluent tenant bases of any community in any market in which we have ever acquired, and perhaps the lowest rent-to-income ratio in our portfolio.”

Cushman & Wakefield/Commercial Kentucky’s Mike Kemether and Craig Collins marketed The Henry on behalf of the seller. KeyBank Real Estate Capital’s Chris Black and Caleb Marten arranged acquisition financing for the buyer.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With Passco’s GillisConnect With Cushman & Wakefield/Commercial Kentucky’s KemetherConnect With KeyBank’s Black

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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