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Phoenix & Southwest  + Southwest  + Finance  | 

Tower 16 Claims First Denver Multifamily Project

San Diego-based Tower 16 Capital Partners and New York-based Dune Real Estate Partners acquired the Fairways at Lowry Apartments in Aurora for $68.45 million. The 450-unit multifamily project was sold by Fairways at Lowry Aurora, LLC and D&J Aurora LLC.

Tower 16’s Tyler Pruett says, “The project represents our first investment in the Denver MSA, which we believe is poised for future rent growth due to the strong demand for workforce housing.” Tower 16 plans to acquire a portfolio of 2,000 units in the next 18 months.

The property is located at 9913 E. 1st Ave. near the Lowry master-planned development. The community consists of one- and two-bedroom apartments with a large clubhouse, gym, swimming pool and playground. Tower 16 will be overseeing $6.8 million in property upgrades and renovations.

Newmark’s Terrance Hunt, Shane Ozment, Amanda Meldrum and Craig Ratterman represented both parties. Newmark’s Charlie Williams, David Treadwell and Tim Weldon coordinated debt financing.

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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.

  • ◦Financing
  • ◦Sale/Acquisition