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California  + Orange County  | 

$287M Santa Ana Ground Lease Foundation for State’s Largest Affordable Housing Dev

A 99-year ground lease valued at $287-million was completed for a 6.84-acre affordable housing development project in Santa Ana, CA. The lessor was Broomell Commercial Properties, while the lessee was Alexis Gevorgian of AMG & Associates, LLC, The Pacific Companies and Jamboree Housing.

The ground lease incudes three parcels at 2110, 2114 and 2020 East 1st St. in a densely-populated area of Central Orange County. The buyer plans to develop two six-story buildings comprised of 552 workforce housing units and roughly 10,000 square feet of ground-floor retail space.

The project will be one of the largest affordable housing communities in the State of California. Construction is expected to commence in Q2 2019.

NAI Capital’s David Knowlton and Kirby Greenlee handled the deal on behalf of the lessor.

Knowlton notes, “This important project will help alleviate the chronic shortage for affordable housing in Santa Ana and the surrounding communities.”

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.

  • ◦Development
  • ◦Lease
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