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Sares Regis Sells San Carlos Apartment Complex

San Diego-based Shapery Enterprises acquired Mission Trails, a 208-unit apartment community in San Diego’s San Carlos neighborhood from Newport Beach-based Sares Regis Multifamily Value Add Funds. Sales pricing was undisclosed.

Located at 6975 Golfcrest Dr., the 175,152 square-foot property was originally built in 1987 on a 4.49-acre lot. The unit mix is comprised of 84 one-bedroom, one-bathroom units and 124 two-bedroom, two-bathroom units. The three-building community recently underwent extensive renovations and features a resident lounge, dog park, pool, fitness center, tennis court, sport court, game room and 288 subterranean parking spaces.

CBRE’s Kevin Mulhern, Stew Weston, Dean Zander and John Montakab represented the seller. The buyer was self-represented.

Mulhern says, “Recent renovations to the property also helped drive strong investor interest for the asset. We have seen really strong interest in suburban assets in the midst of the pandemic, as these properties have been performing much better than higher density urban assets.”

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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.

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