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California  + Orange County  + Apartments  | 

Bascom Acquires 21st MF Property in Orange County

April 5, 2017

The Bascom Group, LLC acquired Villas at Tustin Apartments, a 406-unit infill apartment community in Santa Ana, CA from an undisclosed seller for $94 million. The 98.5% occupied property is a strong value-add opportunity for the Irvine, CA-based multifamily investor-operator.

Villas at Tustin was constructed in 1972, and is located at 2414 N. Tustin Ave. Bascom plans to “modernize Villas at Tustin’s interiors and exteriors,” in order to better compete with newly-constructed Class A properties in the market.

HFF’s Sean Deasy and Ryan Fitzpatrick brokered the sale. HFF’s Charles Halladay and Jamie Kline arranged the $66.5-million loan with California Bank & Trust.

Villas at Tustin marks Bascom’s 21st multifamily property closed in Orange County, and its 166th multifamily property closed in California. Over the past 12 months, Bascom has acquired $1.3 billion in multifamily properties throughout the U.S.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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