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Redwood City MF Trades for Nearly $326M

Blu Harbor, a 402-unit apartment community located in Redwood City, CA, has traded hands for nearly $326 million. Boston-based GID acquired the asset from a partnership between Denver-based Pauls Corporation and New York-based Fortress Investment Group.

Situated on more than 3,200 linear feet of shoreline, the property features an array of studio, one, two, and three-bedroom apartment homes that offer spacious floor plans and condo quality interior finishes. Blu Harbor also offers such amenities as a saltwater pool with expansive sundeck, a club-quality fitness center with a spin studio, an outdoor cucina, a sports lounge, complimentary kayaks, a boat launch and a marina outfitted with 64 boat slips. The Mid-Peninsula community is situated on the east-side of Highway 101, adjacent to a 3,000-acre ecological reserve.

NKF’s John McCulloch, Mark Leary, and Rob LeDoux advised on the sale. NKF’s Ramsey Daya, Chris Moritz, and Travis Bailey secured long-term debt financing for GID.

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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.

  • ◦Sale/Acquisition
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