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California  + Los Angeles  + Apartments  | 

Daydream Snags First California MFs in DTLA

Denver-based Daydream Apartments acquired two Class A multifamily properties in Los Angeles from owner and developer, Holland Partner Group, for a reported $403 million. The Fashion District assets in DTLA include The Grace on Spring and The Griffin on Spring.

The pair of 24-story properties are located at 8th and Spring Streets and were built in 2018. The Grace has 300 units and 7,500 square feet of ground floor retail space. The Griffin has 275 units and 9,000 square feet of ground floor retail space. The properties offer state-of-the-art amenities, as well as studio, one, two and three-bedroom apartments. Amenities include rooftop lounge areas, gyms, yoga studios, and pools.

Daniel Cohen, founder and CEO of Daydream Apartments, says “Our goal is to bring a new model of affordability and convenience to apartment living in vibrant urban locations.”

PCCP, LLC provided $268.4-million in financing for the acquisition. Vancouver, WA-based Holland will continue to manage both apartment 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
  • ◦Sale/Acquisition
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