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California  + Inland Empire  + Hospitality  | 

Shopoff Picks Up 2,096 Ground Subleases in Coachella Valley

Irvine, CA-based Shopoff Realty Investments acquired Westkin Properties, Ltd., which holds the master leasehold interests in several Cathedral City, CA properties, including the DoubleTree by Hilton Hotel Golf Resort Palm Springs (pictured). The transaction totals 2,096 ground subleases, many of which are subleased to condominium owners.

Shopoff Realty Investments’ William Shopoff says, “This investment is a strategic acquisition that sits at the core of our opportunistic real estate investment philosophy.” He notes that large portions of the Coachella Valley are owned by Native Americans,. and are commonly developed with long-term ground leases in place. “These ground leases provide significant economic development and employment opportunities throughout the region. This is a market that we know well and maintain a bullish outlook on,” said Shopoff.

Other commercial properties on subleases in this transaction include the Desert Princess Country Club and Cathedral Canyon Business Park.

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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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