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Seattle & Northwest  + Seattle  + Apartments  | 

RISE, CIGNA JV Claim Seattle MF for $75M

Canada’s RISE Properties Trust, along with partner Cigna Investment Management, acquired Joseph Arnold Lofts in Seattle for $74.5 million. The 13-story multifamily building at 62 Cedar St. has 131 loft-style residential units and was built in 2013.

The loft-style property features a mix of one and two-bedroom units, has 10-foot to 13-foot ceilings, and floor to ceiling windows.

RISE’s Jason Murray says, “RISE and Cigna have had tremendous success reimagining urban properties in the Seattle Core. Last year, we acquired and improved JACK apartments on Capitol Hill, and with Joseph Arnold Lofts, view another great opportunity to add value through strategic improvements, and also give Jack a brother, “Joe”.

CBRE brokered the deal. It is the second joint venture between the Canadian REIT and Cigna. The property will be managed by Seattle-based Thrive Communities.

Connect Seattle is set for November 7th at Coterie Worklounge. Plan to join us for the afternoon of CRE conversations and networking. You can find out more information and register on this link.

For comments, questions or concerns, please contact Dennis Kaiser

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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.

  • ◦Sale/Acquisition
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