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California  + Bay Area  + Apartments  | 

Decron Acquires Emeryville MF for $87M

Los Angeles-based Decron Properties Corp. acquired Bridgecourt, a 220-unit multifamily apartment complex in Emeryville, CA from a joint venture between Bascom Group and Carlyle Group for $87.4 million. The purchase boosts Decron Properties’ Bay Area portfolio to 650 units, which accounts for 10% of its portfolio.

Decron’s David Nagel says, “We were attracted to this investment because of the diversity and runway of the demand drivers that exist there [in Emeryville].”

Built in 1998, the four-building complex is located at 1325 40th St. and offers a mix of one-and two-bedroom units. Common area amenities include a pool, spa, sauna, outdoor BBQ with seating area, and a dog park. Decron plans to complete an interior renovation program started by the seller, as well as additional upgrades to the common areas. The property also includes roughly 8,889 square feet of 100%-leased ground floor retail.

Moran & Company represented both parties in the transaction.

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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