BMC Investments Partners With DRA Advisors to Recapitalize Three-Property Portfolio in Denver

1,346 Workforce Housing Units Will Include a $12MM Renovation Plan

DENVER–(BUSINESS WIRE)–#denverBMC Investments (BMC), a Denver-based real estate investment company specializing in acquisitions and development of various property types, announced today the recapitalization of a three-property portfolio of workforce housing apartment communities – Landon Park, Aurora Hills and Vista Park – with a fund managed by DRA Advisors, a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors. The recapitalization will be one of BMC’s largest with an institutional capital group, further establishing BMC within the institutional markets. BMC – through its property management division (BLDG Management) – will retain property management and oversight of an extensive $12MM renovation plan while continuing to operate the properties.

“We are excited to launch a partnership with DRA Advisors,” said Jeff Stonger, Chief Investment Officer of BMC Investments. “This transaction is just the first step of a larger, programmatic strategy with DRA to execute on a workforce housing strategy targeting in excess of $500MM in deals together.”

“These assets are primed to capture value-add upside via the continuation of the interior unit renovation plan and the strong fundamentals of the overall Denver market and submarket,” said Brett Gottlieb, Managing Director of DRA Advisors. “We have witnessed the strength of the BMC team and their operations, and we look forward to continuing to grow this joint venture relationship.”

All three properties in the transaction portfolio are located in Aurora, Colorado’s third largest city – and its most diverse. The portfolio encompasses 1,346 total units, marking one of the largest workforce housing transactions in Denver in the last 18 months. Aurora Hills is the largest of the three properties with 600 units, followed by Landon Park with 464 and Vista Park with 282. The three-year renovation plan will make improvements to both the interiors and exteriors of each property with a focus on providing and maintaining clean, safe and affordable workforce housing opportunities in the Aurora community.

“We recognize the need for affordable workforce housing options in the Denver metro area and we feel it is our responsibility to help create these environments for our residents and to help better the neighborhoods in which we operate,” said Matt Joblon, Chief Executive Officer of BMC Investments. “This partnership with DRA furthers that commitment.”

Dustin Stolly and Jordan Roeschlaub, co-heads of Newmark’s Capital Markets Debt & Structured Finance team, arranged the recapitalization on behalf of DRA and BMC. Stolly and Roeschlaub, in partnership with Blake Okland, Vice Chairman, Head of Multifamily Investment Sales, executed the collaborative effort under Newmark’s Strategic Transactions Group.

“As one of the most significant of its kind in Denver this year, this deal underscores the strength of the Newmark and BMC platforms within the institutional markets,” said Stolly. “We’re excited to have arranged this complex, off-market transaction in partnership with the powerhouse that is DRA.”

About BMC Investments

BMC Investments (“BMC”) is a highly disciplined, vertically integrated real estate investment firm generating industry-leading returns through acquisition, development and management of various property types throughout the U.S. BMC focuses its investment strategy on creating long-term value in its assets and generating strong risk-adjusted returns. The company is able to outperform its peers by procuring attractive investments in its areas of focus; utilizing a measured and disciplined investment process with rigorous focus on risk management; leveraging best-in-class operating systems and processes; and attracting, retaining and developing great people. To learn more, visit

About DRA Advisors

DRA Advisors LLC is a New York-based registered investment advisor with approximately 90 employees specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA was founded in 1986, the firm has acquired over $34 billion of real estate, including 80 million square feet of industrial, 60 million square feet of office, 82 million square feet of retail and 76,000 multifamily units. As of March 31, 2021, DRA has $11.4 billion in gross assets under management. To learn more, visit


Alana Watkins

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