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Los Angeles Buyer Claims Joshua Tree’s Largest MF

Los Angeles-based Pro Residential acquired Quail Springs Village, a multifamily property in Joshua Tree, CA for $6.5 million. Located at 62220 Verena Rd., the 75-unit complex features all two-bedroom, two-bathroom units, and is the largest complex in the Joshua Tree submarket.

CBRE’s Cray A. Carlson and Kevin Sin represented the buyer. The seller, Susan Highland, was also represented by Carlson and Sin.

Sin says, “The buyer was able to acquire this turnkey asset which presents huge upside. There is room for a large rent increase and for the new buyer to drastically reduce expenses.”

Added Carlson, “Quail Springs Village is the largest multifamily property to close in the Morongo Basin area ever, and it is the only non-affordable property over 50 units to sell.”

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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.

  • ◦Sale/Acquisition