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California  + Inland Empire  + Apartments  | 

TruAmerica Divests Ontario MF for $42M

Mountain Summit Condominiums, a 194-unit garden-style multifamily property in Ontario, CA, traded hands for $42.25 million. The buyer was SoCal-based Advanced Real Estate Services, while the seller was Los Angeles-based TruAmerica Multifamily.

Located at 1352 W. 5th St., the property features one, two and three-bedroom units with air conditioning and heating, walk-in closets, balconies, microwaves and garbage disposals. Community amenities include a fitness center, a business center, a clubhouse, a courtyard and a picnic area. The property is near the San Bernardino Freeway.

Berkadia’s Jim Fisher, Jeff Rowerdink and Mike Smith represented the seller.

Fisher says, “With tremendous job growth, low vacancy rates and very little development, the Inland Empire continues to be a favorable investment environment for both buyers and sellers.”

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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
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