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| Phillip Nahas |
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:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
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