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CBRE Handles 33-Unit Indio Apartment Asset Sale

A 33-unit apartment complex in Indio, CA was acquired by an unnamed private investor for $3.38 million in cash. CBRE’s Cray Carlson and Kevin Sin represented the local buyer, an experienced multifamily investor that owns other buildings in Indio and several thousand units throughout the U.S. The undisclosed seller exchanged into two single tenant triple-net-lease properties with little to no management.

The gated 33-unit property is located at 45601 Monroe St., and totals 28,920 square feet. The asset features a mix of two studios, a one-bedroom, and 30 two-bedroom units, as well as a swimming pool.

Carlson says, “Indio is the third-fastest-growing city in Southern California; and the Low Desert continues to be a great alternative for L.A., O.C. & San Diego buyers based on the upside in rents and stellar location. The seller was tired of property management and traded into a triple net property, which made it a great outcome for both parties.”

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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.

  • ◦Sale/Acquisition
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