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California  + San Diego  + Finance  | 

George Smith Partners Delivers $41M for New 170-Unit Development in San Diego

George Smith Partners (GSP) secured $40.7 million of structured financing for Bonita Glen, a new 170-unit multifamily community and ground-up development in San Diego. GSP’s Malcolm Davies, Michael Anderson-Mitterling, Zachary Streit, Kyle Howerton and Alex Rossinsky sourced the financing on behalf of Bank of the Ozarks and Pembrook Group, LLC during the COVID-19 pandemic.

Davies says, “This is truly remarkable time in the capital markets, and in the heart of the COVID-19 pandemic, we were able to execute a nicely levered transaction for GenProp. The leverage achieved was extremely accretive to their equity investment returns.”

The project is comprised of seven buildings with 104 units, including six three-story walk-up buildings and one four-story elevator-served podium building with 66 units. The unit mix consists of one- and two-bedrooms ranging in size from 517 square feet to 1,045 square feet. The 5.3-acre site will also include a privately maintained park and trails that will be open to the public.

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
  • ◦Development
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