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Steadfast Adds Denver-Area MF for $63M   

Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.

Irvine, CA-based Steadfast Apartment REIT III, Inc. (STAR III) acquired Belmar Villas, a 318-unit garden style apartment community in Denver from from Seagate Properties for $63.3 million. The 93%-occupied property is located at 700 South Reed Ct. in Lakewood, CO, a suburb seven miles west of Denver.

STAR III’s Ella Neyland says, “We believe the Denver area is a great match for the investment objectives of Steadfast Apartment REIT III, which targets mid-tier multifamily properties in growing communities.” The investment is Steadfast’s second property acquisition in the Denver metropolitan area, and sixth apartment home community purchase.

Belmar Villas includes 17 three-story buildings with one-, two- and three-bedroom apartment homes. The previous owner completed renovations to roughly a quarter of the units, and STAR III plans to renovate the remaining interiors when turning apartments between residents.

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.

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