High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Orange County  + Apartments  | 

Kidder Mathews Completes Rare Newport Beach MF Asset Sale

Waterford Residential, LLC acquired Dover Shores Apartment Homes, an 18-unit apartment building in Newport Beach, CA, from an undisclosed private investor for $8 million. Located at 1606-1674 Westcliff Dr., the property consists of four one-bedroom and 14 two-bedroom units.

This is the first time the property has been on the market in 42 years. Assets of this size are unique in Newport Beach, and rarely become available.

Kidder Mathews’ Steven Brombal and Joshua Rhee represented both buyer and seller.

Brombal says, “The sale of Dover Shores illustrates the depth of investor interest in the coastal market and the desirability of Class A product suitable for high net worth investors. While interest rates have steadily crept up in the last 15 months, many investors were willing to overlook the current low rents and the lack of any reasonable debt leverage due to the irreplaceable, Class A coastal location.”

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: Kidder Mathews
Connect

Inside The Story

Connect With Waterford Residential, LLCConnect With Kidder Mathews’ Brombal

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
New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action