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California  + San Diego  + Apartments  | 

Iconic North Park MF Trades in Record Deal

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.

Saltwater Investments I, LP acquired the iconic 41-unit Versailles apartment building in San Diego’s North Park for $13.3 million. The transaction ranks as the single largest commercial real estate sale in North Park history.

The buyer is a partnership formed by David Tarquin, founder of Orka Holdings, and past pension fund manager, and San Diegan brothers, Russ and Scott Murfey of Murfey Company.

The property has stood at the center of the vibrant North Park neighborhood since 1966. This area has gained momentum as one of SoCal’s strongest rental markets known for its trendy, local and modern vibe. North Park has a variety of restaurants, shops, and entertainment, and claims some of the best craft beer in the nation.

Marcus & Millichap’s Conor Brennan and Aziz Zakkout represented the buyer. The seller, Courtyard Villas VI, LLC, was self-represented.

HFF’s Aldon Cole and Bryan Clark arranged debt financing with a corresponding life company.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect With Orka HoldingsConnect With Marcus & Millichap’s BrennanConnect With HFF’s Cole

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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