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California  + Bay Area  + Apartments  | 

Bridge Buys Sacramento MF for $85M

Salt Lake City-based Bridge Investment Group acquired The Fountains at Point West, a 339-unit value-add multifamily property in Sacramento, from Oakmont Properties for $85.15 million. Built in 1974, the property at 1761 Heritage Ln. is located in the Arden-Arcade submarket of Sacramento, across the street from the Arden Fair Regional Mall and Kaiser Permanente’s Point West Campus.

The community underwent substantial exterior renovations including new roofs, complete exterior residing, replacement of balconies and stair towers, elevated walkways, installation of dual pane windows, exterior paint, landscaping, and an upgraded fitness center and clubhouse. Oakmont Properties fully renovated 23 units, allowing the new owners to benefit from fully renovating the remaining units and revitalizing vacant community spaces.

CBRE’s Marc Ross, who represented the seller, says, “This marks the first significant multifamily sale to occur in Sacramento since the COVID-19 pandemic hit, which is a testament to the property’s status as a ‘landmark’ asset in the region.”

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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