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California  + Orange County  + Office  | 

Praelium, Shopoff JV Snags Santa Barbara Tech Campus

Irvine-based Shopoff Realty Investments and Praelium Commercial Real Estate acquired Castilian Technical Center, a 165,905-square-foot headquarters property in Goleta. The sellers were a JV between Montana Avenue Capital Partners (MAC) and Brasa Capital, which had acquired the property in early 2020 for $35 million.

Located at 50-90 Castilian Dr., the asset includes the three-building HQ of AppFolio, a tech company specializing in a cloud-based business software solution. The campus features outdoor amenity spaces with indoor/outdoor meeting areas and walking trails.

CBRE’s Sean Sullivan, Mike Longo, Todd Tydlaska, and Will Pike, alongside Hayes Commercial Group’s Steve Hayes and Francois DeJohn represented the seller.

Sullivan says, “The buildings and campus are spectacular and exactly what you expect from a growing software company that is continually recruiting tech talent. While a relatively small market, pound for pound, Goleta has as much tech demand as anywhere in Southern California and, given the high cost of land and barriers to entry, it’s a very attractive place to invest.”

For comments, questions or concerns, please contact Dennis Kaiser

Read More News Stories About: AppFolio
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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.

  • ◦Sale/Acquisition
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