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California  + Bay Area  + Finance  | 

CBRE Arranges Record $118M Sale, Financing of Sacramento MF

The Press at Midtown Quarter, a 277-unit Class A multifamily property located in Midtown Sacramento, traded hands for $118 million. The buyer was San Rafael-based Oakmont Properties, while the seller was Tampa, FL-based DeBartolo Development, and a local partner, SKK Developments.

The sale marks the largest single-asset, market-rate apartment trade in Sacramento history in terms of deal size. Completed in June 2020, the asset is the largest new construction in Sacramento’s urban core and has 8,600 square feet of ground-floor retail.

Amenities include a two-level co-working space, state-of-the-art fitness center and yoga studio, rooftop lounge, pet spa and run area, bike lounge with repair and wash stations, car wash and car charging stations. The property also has one acre of outdoor community space with a heated resort-style pool, community garden, bocce court, outdoor kitchens and fire tables with lounge seating.

CBRE’s Marc Ross brokered the sale. CBRE’s Debt and Structured Finance group’s Andrew Behrens arranged the financing.

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.

  • ◦Financing
  • ◦Sale/Acquisition
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