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Trio of Apartments Trade in Imperial Beach

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Truman Johnson, Inc., a private real estate investor, acquired three apartment buildings in San Diego’s coastal Imperial Beach from Wildwood Apartments LLC for $10.2 million. Located at 1939, 1945 & 1949 Avenida Del Mexico, the buildings contain 44 one-and two-bedroom units on a large 12-property multifamily complex.

The three acquired buildings are nestled within a 161-unit community, with the remaining condos individually owned and owner occupied.

CBRE’s Cray Carlson represented the buyer in the transaction. Marcus & Millichap’s Christopher Zorbas and Kire Nastevski represented the local seller.

“The fully remodeled interiors, paired with resort-style amenities, makes this space highly desirable to renters,” said Carlson. “With this trade, we helped our client sell her old property in a challenging area, and exchange into a better building with a stronger cashflow.”

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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.

  • ◦Sale/Acquisition