California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


California  + Los Angeles  + Apartments  | 

15-Asset SoCal MF Portfolio Trades for $52M

A 15-property SoCal apartment portfolio in the West San Gabriel Valley sold for a combined total of $51.7 million to a variety of different private foreign and local buyers. The portfolio, which totals 169 units, is comprised of 10 Arcadia properties, two San Gabriel complexes, and a building in Pasadena, Sierra Madre and Monrovia.

CBRE’s Priscilla Nee represented the seller, Louise C. Gelber Trust, a local family office, in all 15 transactions. Many of the properties closed within a short, seven-day escrow period with no contingencies, and nearly all of the buyers provided a 10% pass-through deposit. Nearly all the sales came in above the asking price, with cap rates just south of 2%.

“This process was incredibly competitive, as these properties sit in highly coveted locations and are a product of decades of careful acquisitions and diligent management,” said Nee, who notes the well-maintained properties still offer an opportunity to add value.

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser


Inside The Story

Connect With CBRE’s Nee

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

Step 1: Select Education
  • ◦Sale/Acquisition
New call-to-action