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California  + San Diego  + Apartments  | 

Encinitas MFs Sell for $10M in Off-Market Deal

A pair of multifamily properties in Encinitas, CA totaling 24 units have traded hands in a $10-million off-market transaction. The buyer was Kathleen M. Huettner Trust, while the seller was the Joseph Family Trust.

The properties consist of two identical two-story apartment structures located at 1237 and 1353 N. Vulcan Ave. The seller had owned and managed the properties since initially developing them in the 1970s. They eventually decided to sell them now as part of a 1031 Exchange, in order to retire from management and keep a steady source of income.

Cushman & Wakefield’s Clark Rorbach, Ray Adams and Will Creagan represented the seller.

Rorbach notes, after more than four decades of ownership, the seller sought a new investment venture in their retirement years. The seller used the funds from the disposition to move into two out-of-state retail triple-net leased properties, both featuring investment-grade tenants with long-term, in-place leases.

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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