Related Acquiring Affordable Portfolio from Aimco for $590M
Related Companies is acquiring 7,837 affordable housing units from Denver-based Apartment Investment and Management Company (Aimco) in a $590-million deal. Aimco’s Asset Management portfolio and four affordable real estate communities will now come under the Related Affordable umbrella, a division of Related Co.’s.
The units are located across 51 properties in 16 states, and includes the Hunters Point (pictured in background above) communities, four affordable, garden-style neighborhoods, with 604 apartment homes located in San Francisco.
Related plans to preserve the 51 properties as affordable. Once the closing of this transaction is complete, which is anticipated to occur in the third quarter of 2018, Related will begin implementing preservation plans for each property.
Related Affordable’s Matthew Finkle says, “We have preserved tens of thousands of affordable housing units across the country, and have never converted a single unit to market rate – a legacy we intend to extend to all of the 7,837 apartments in this portfolio.”
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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