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California  + San Diego  + Student Housing  | 

East Village MF Acquired for $47M, Slated for Conversion

Central California-based IDEAL Capital Group acquired Entrada Apartments in Downtown San Diego for $46.6 million. The 2004-vintage property was, until July 2018, master-leased as student housing for Thomas Jefferson Law School.

The seller was SP RGA, a partnership between Seattle-based Security Properties and ReCap, a Reinsurance Group of America (RGA) company. Moran & Co.’s Rachel Parsons and CBRE’s Kevin Mulhern represented the seller.

The community features 172 apartment homes with a rooftop deck, large courtyard with water feature, fitness center and business center. Situated at the corner of 13th & Island, Entrada is located in a highly-walkable area in the dynamic East Village neighborhood.

The new owner plans to rebrand and renovate the property, targeting the “touch-points” of the unit interiors by adding new cabinet faces, countertops, stainless steel appliances, lighting packages, and flooring throughout. It will also upgrade the rooftop amenity area, streetscape, resident gym, and interior courtyard to improve the gathering and socialization experience.

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Connect With IDEAL Capital GroupConnect With Security PropertiesConnect With Moran & Co.’s Parsons

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.

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