Monday, November 14, 2016
Oak Coast Properties Announces the $129 Million Acquisition of Pembrooke on the Green Apartments in Denver, CO
Los Angeles, CA – Oak Coast Properties announced the $129 million acquisition of the Pembrooke on the Green Apartments in Denver, Colorado.
Pembrooke on the Green is located at 10700 E. Dartmouth Avenue in Southeast Denver. Just north of the I-225/I-25 junction, the community sits within close range of Denver Tech Center, Downtown Denver, Fitzsimons Life Science District and Denver International Airport.
Four projects totaling more than 1 million square feet of offices are currently under construction in Southeast Denver metro and are expected to drive up demand for apartments even further.
“This acquisition marks our firm’s largest to date and brings our Denver portfolio to more than 2,300 units,” said Phillip Nahas, Oak Coast Properties’ Co-Founder and Managing Partner.
“Having acquired and amassed a portfolio with a valuation of nearly a billion dollars and with the continued strategic alliances we have with our capital partners, we are committed to achieving above market risk adjusted returns through our investment strategy in Denver and other strategic markets across the country.”
Managing Director Charles Halladay and Associate Directors Lee Redmond and Brock Yaffe of HFF’s debt placement team assisted in securing the $103 million Freddie Mac loan for the acquisition of the property.
Miami-based Pensam Residential provided a portion of the equity financing.
For a complete copy of the company’s news release, please contact:
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | hfflp.com
Posted by Alex at 1:35 PM