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California  + Los Angeles  + Apartments  | 

Raintree Snags 7-Asset MF Portfolio in Glendale for $79M

Orange County, CA-based Raintree Partners acquired a portfolio of seven multifamily properties totaling 231 units in Glendale, CA for $79 million. The assets were acquired from an unnamed private seller who had owned the assets for many years. The properties will be rebranded as The Indie Collection.

Raintree Partners’ Ian Couwenberg says, “Over the past several years, we’ve successfully amassed economies of scale in select submarkets through targeting multifamily properties under 100 units. This has allowed us to optimize management efficiency and build a portfolio of properties in the best urban submarkets of Los Angeles, which we could not penetrate by focusing exclusively on larger assets.”

The properties include:
Stanley Oaks Apartments, an 80-unit community at 1435 Stanley Ave. (pictured)
Everett Apartments, an 8-unit community at 138 N. Everett St.
Wilson Apartments, a 14-unit community at 1458-1462 E. Wilson Ave.
Justin Oaks Apartments, a 54-unit community at 1133 Justin Ave.
Chestnut Apartments, a 33-unit community at 120 W. Chestnut St.
Galleria Pointe Apartments, a 22-unit community at 1140 N. Columbus Ave.
Burchett Apartments, a 20-unit community at 314-320 W. Burchett St.

The Mogharebi Group’s Alex Mogharebi and Otto Ozen represented the seller. Wells Fargo provided the acquisition financing.

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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.

  • ◦Sale/Acquisition
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