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California  + San Diego  + Finance  | 

Ryan Breaks Ground on Millenia MF, Adds Preston Underdown to Development Team

Financing closed for the anticipated 480-unit multifamily project within Meridian Development’s 210-acre Millenia community in Chula Vista. MetLife Investment Management, Allstate and Ryan Companies secured a $103.5 million construction loan and Ryan has started mobilizing.

Ryan Companies’ Christa Chambers says, “The need for multifamily in Chula Vista is there, and the investment return is extremely attractive, but the quality of the project and the strength of the development group ensured the lending markets remained open to this project.”

Preston Underdown

City National Bank, Vectra Bank Colorado and MidFirst Bank are the co-lenders for the 512,000-square-foot multifamily project. The new development will offer housing, commercial space and several amenities.

Ryan Companies also added Preston Underdown as a VP of Real Estate Development in its San Diego office. Underdown comes to Ryan Companies with years of experience in multiple industries and most recently served at The Richmond Group, and before that he was at RNC Capital Management, LLC.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With Ryan Companies’ Chambers & Underdown

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.

  • ◦People
  • ◦Financing
  • ◦Development
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