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California  + San Diego  + Student Housing  | 

East Village MF Acquired for $47M, Slated for Conversion

Central California-based IDEAL Capital Group acquired Entrada Apartments in Downtown San Diego for $46.6 million. The 2004-vintage property was, until July 2018, master-leased as student housing for Thomas Jefferson Law School.

The seller was SP RGA, a partnership between Seattle-based Security Properties and ReCap, a Reinsurance Group of America (RGA) company. Moran & Co.’s Rachel Parsons and CBRE’s Kevin Mulhern represented the seller.

The community features 172 apartment homes with a rooftop deck, large courtyard with water feature, fitness center and business center. Situated at the corner of 13th & Island, Entrada is located in a highly-walkable area in the dynamic East Village neighborhood.

The new owner plans to rebrand and renovate the property, targeting the “touch-points” of the unit interiors by adding new cabinet faces, countertops, stainless steel appliances, lighting packages, and flooring throughout. It will also upgrade the rooftop amenity area, streetscape, resident gym, and interior courtyard to improve the gathering and socialization experience.

For comments, questions or concerns, please contact Dennis Kaiser

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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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