November 9, 2018 Comments (0) Views: 668 Colorado, National News, Southwest

Oak Coast Expands Denver MF Portfolio with $31M Buy

Los Angeles-based Oak Coast Properties acquired the Berkeley at Regis apartments community in Denver from Miami-based Fifteen Group for $31 million. The property is a 132,129-square-foot, 127-unit vintage community located at 4703 W. 52nd Ave. in the Berkeley / North Washington submarket of Northwest Denver.

Oak Coast Properties’ Phillip Nahas says, “This acquisition is attractive to us as it aligns nicely with our value-add multifamily investment strategy. Once the community is repositioned, we believe it will succeed in attracting numerous renters, as the units will provide high-quality living spaces with lease rates a bit lower than the newer nearby options.”

HFF’s Jordan Robbins arranged the sale of the property, and the firm’s Charles Halladay and Rick Salinas procured a $22 million loan financing the acquisition. The purchase increases Oak Coast’s Denver property portfolio to 4,226 units.

Connect With Oak Coast

Connect With Fifteen Group

Connect With HFF’s Robbins


Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.