Sentral and OliverBuchananGroup (OBG), a mixed-use development company helmed by former executives of OliverMcMillan, are partnering to develop new urban multifamily communities and mixed-use projects in high-growth U.S. markets. Sentral will serve as the exclusive property management company for residential properties and the partnership will initially target projects in Denver, Colorado; San Diego, California; Phoenix, Arizona; Dallas and Austin, Texas and Nashville, Tennessee.
The partnership’s first development will center on Denver’s River North District (RiNo), to include more than 300 units of residential living, as well as retail, office and event space. Construction is currently set to begin in 2023. The development’s location sits in one of the highest concentrations of restaurants, entertainment and breweries in Denver, with more than one million square feet of office space under construction within a one-mile radius.
“As we expand our footprint, we are strategically aligning ourselves with partners like OliverBuchananGroup who share our vision to build and operate the next generation of residential living,” said Jon Slavet, chief executive officer at Sentral. “Through this collaboration, we will address modern consumer preferences for living and travel while introducing brand standards and flexibility into the multifamily sector for the first time.”
Led by Chairman Morgan Dene Oliver and Chief Executive Officer Eric Buchanan, OBG grew from its OliverMcMillan, a development firm whose assets were acquired by Brookfield Properties in 2018. In its 42-year history, OliverMcMillan designed and developed more than eight million square feet of mixed-use projects with a gross project value exceeding $4 billion across 11 domestic markets, including Lilia in Waikiki and Symphony Honolulu, in Hawaii; River Oaks District in Houston, Texas; Fifth and Broadway in Nashville, Tennessee and Buckhead Village in Atlanta, Georgia.
“While we continue to see the rise in demand for short-term rentals, it is impactful to see a brand like Sentral pioneering flexible living in the multifamily market – offering residents top-notch amenities and design-driven accommodations in desirable cities,” Oliver said. “We look forward to collaborating with Sentral on developing these new communities and creating dynamic spaces where residents can work, play and make memories.”
