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California  + Orange County  + Apartments  | 

230-Unit Mission Viejo MF Community Goes for $83M

Acacia Capital acquired the Madrid, a 230-unit luxury rental community in Mission Viejo, CA from San Mateo, CA-based Essex Property Trust for roughly $83 million. Located at 28401 Los Alisos in Mission Viejo, Madrid Apartment Homes features an upgraded clubhouse, swimming pool and spa with BBQ area, and modern fitness center.

CBRE’s Stewart I. Weston, John Montakab, Kevin Mulhern, and Rachel Parsons represented the seller. CBRE also represented the San Mateo-based buyer, an undisclosed national real investment company. Financing for the deal was provided by CBRE’s Troy Tegeler and Trevor Breaux.

“For assets such as Madrid that offer an investor a compelling investment opportunity, sellers can achieve attractive pricing with very little friction” said Weston. “At the same time, the buyer has an opportunity to benefit from making a strategic move in repositioning the property.”

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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.

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