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California  + Orange County  + Senior Housing  | 

Senior Apartments in Huntington Beach Sold for $49M

Newport Beach-based KDF Communities acquired Five Points Senior Apartments, a 166-unit multifamily community in Huntington Beach from an unnamed private party for $49 million. The deal traded at a 15.68 GRM and 3.67% cap rate.

The property at 18561 Florida St. was built in 1993 and was owned by the developers. The sale marks the first time for the asset to be on the market. It features new construction with large, two-bedroom units available. Amenities include a library and fitness center.

Colliers International’s Pat Swanson, John L. Nguyen and Ron Peled represented both buyer and seller.

Colliers’ Nguyen says, “This deal represents the strength of the multifamily industry – even during a pandemic – in Southern California and specifically in Huntington Beach, which is historically a desirable beach neighborhood with upscale retail, dining and boutiques.”

He notes, buyers were drawn to the property’s quality and premier location in a strong rental market with the potential to achieve 20% higher rental rates.

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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