Saturday, March 5, 2016

Oak Coast Properties and BMC Investments Announce $50.8 Million Acquisition of The Artisan Townhomes and Apartments in Denver, CO

Brock Yaffe

 Los Angeles, CA – Oak Coast Properties and BMC Investments announced the $50.8 million acquisition of The Artisan Townhomes and Apartments in Denver, Colorado.

Oak Coast Properties will employ a value-add investment strategy to the multifamily community asset via the completion of a robust $2.5 million property renovation and repositioning effort aimed at improving interiors, exteriors and amenities.

Oak Coast Properties has also announced its plans to invest $300 million in the multifamily sector in 2016, with The Artisan acquisition the first in a series of investments made to meet that goal.

“This acquisition marks an important milestone as it signifies more than $500 million invested in multifamily and hotel real estate assets in three years,” said Phillip Nahas, Oak Coast Properties’ Managing Partner.

“The Artisan also grows our Denver apartments portfolio to over 1,500 units and provides an opportunity for significant upside potential through a renovation plan that capitalizes on rising rental rates, unit demand and lack of new supply in this in-demand region.”

Charles Halladay
The Artisan encompasses 434 units offered in a mix of one-, two-, and three-bedroom floorplans.

BLDG Management, the property management company affiliated with BMC Investments, will manage The Artisan.

Brock Yaffe and Charles Halladay of HFF’s debt placement team assisted in securing a $41.89 million loan for the buyer through Freddie Mac’s CME Program. The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer Program.

 Jordan Robbins and Jeff Haag of HFF’s investment sales team represented the seller, Peak Capital Partners, in the sale.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

Julie Fornaro

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