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Security Properties, New York Life Pick Up NorCal Asset

Seattle-based Security Properties and New York Life Real Estate Investors, on behalf of its institutional client, acquired The Henley Apartment Homes, a 240-unit multifamily property located in Suisun City, CA for $42.5 million. The Henley was built in 1985 and consists of 30 two-story residential buildings spread over approximately 11 acres.

Security Properties’ Beau Madsen says, “this acquisition follows Security Properties efforts to acquire properties with renovation potential in supply constrained markets and submarkets. The Henley represents a high-yielding asset at a compelling basis, and is well positioned to undergo a renovation that will increase value for both our investors and Henley residents.”

The Henley will undergo a moderate interior renovation in an effort to modernize unit finishes. The addition follows Security Properties’ expansion in Northern California that included the recent acquisition of the 244-unit Sycamore Terrace in Sacramento for $57.4 million.

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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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