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CBRE Arranges $48.8M Loan for Luxury Temecula MF Complex

CBRE arranged a $48.8-million loan for the acquisition of Cape May at Harveston, a 300-unit, Class A apartment community in Temecula, CA. The 15.3-acre garden-style asset was purchased by Newport Beach, CA-based MIG Real Estate from an undisclosed institutional owner.

The acquisition reflects MIG’s continued efforts to strategically expand its footprint in the region. MIG Real Estate’s Greg Merage says the location in a fast-growing region within one of its most desirable cities is “drawing a younger, high-income demographic that is in search of the ideal community in which to settle down.”

CBRE’s Capital Markets’ debt and structured finance team of Scott Peterson, Bill Chiles and Brian Cruz secured the ten-year floating rate loan. Financing was provided by Fannie Mae.

Moran & Company’s Tom Moran Jr. brokered the acquisition.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Read More at MIGConnect with MIG’s MerageConnect with CBRE’s Peterson

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.

  • ◦Financing
  • ◦Sale/Acquisition
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