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California  + Apartments  | 

Moreno Valley’s Largest MF Community Acquired for $99M

Connect Inland Empire returns on October 6! Check out the line-up and register here.

San Diego-based Davlyn Investments Inc. sold Stonegate at Towngate, a 552-unit residential apartment community in Moreno Valley, CA to Kirkland, WA-based Weidner Apartment Homes for $98.5 million. The value-add transaction represents one of the largest price tags for a single asset, market rate sale in the Inland Empire in the past year.

Berkadia’s Dean Zander and Spencer Scott represented the seller, which purchased the 26-acre neighborhood just after it was completed in 2007. The property is the largest apartment community in Moreno Valley.

Zander notes, “[Stonegate] represented a strategic value-add opportunity; with only one-third of the units upgraded to some degree, minimal additional interior upgrades will allow the buyer to achieve a significant rent premium over the current rental rates, while maintaining very strong occupancy.”

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect with Berkadia’s ZanderConnect with Davlyn InvestmentsConnect with Weidner Apartment Homes’ Kevin Colard

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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