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California  + Orange County  + Apartments  | 

TruAmerica Expands Footprint with $86M Fountain Valley Buy

Connect Orange County is just around the corner. In case you didn’t know, it is just about the biggest CRE gathering in SoCal. You can still register on this link: Connect Orange County.

Los Angeles-based TruAmerica Multifamily, in partnership with capital partner ASB Real Estate Investments on behalf of its Allegiance Real Estate Fund, acquired Corte Bella, a 251-unit multifamily community in Fountain Valley, CA for $85.8 million.

Built in 1969, the 97%-occupied property is located on an ultra-low-density 12-acre site at 9580 El Rey Ave. The community features a mix of one and two-bedroom apartment homes, with private garages in 33, two-story residential buildings. Common area amenities include seven swimming pools, fitness center, dog park, courtyards and barbecue picnic areas.

This is TruAmerica’s second significant Orange County investment in the past six months. Earlier this year, it acquired a 264-unit apartment community in Huntington Beach for $90.5 million. Both are among the county’s largest single asset multifamily acquisitions in 2018.

Moran & Company’s Mike Murphy, Tom Moran, Jr. and Mary Ann King marketed the property on behalf of the undisclosed seller.

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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