Wednesday, January 21, 2015

Raintree Partneers Acquires Five Property Multifamily Portfolio Totaling 327 Units in Los Angeles, CA

Kristen Croxton
LOS ANGELES, CA (Jan. 21, 2015) – Raintree Partners, a Laguna Niguel, Calif.-based real estate investment and development company, has completed the acquisition of a five property multifamily portfolio totaling 327 units and located in A locations within Los Angeles County, Calif., according to Jeff Allen, CEO of Raintree Partners.

The acquisition includes Pico Lanai Apartments, a 174-unit community in Santa Monica, Calif., and the Westwood Apartments, a portfolio of four properties totaling 153 units, located in the Westwood Village area of Los Angeles, adjacent to UCLA. 

Greg Reed and Kristen Croxton of Capital One Multifamily Finance arranged Fannie Mae loans on the entire portfolio.

Greg Reed
“This portfolio acquisition is in line with Raintree Partners’ investment strategy of acquiring infill, urban properties, with ample value-add opportunity, in great locations in the Los Angeles market,” explained Allen. 

“This latest acquisition adds to our growing Southern California property portfolio, which now includes 21 multifamily communities, eight of which were purchased within the last 10 months.”

In addition to the recently acquired five property portfolio, Raintree Partners acquired three additional apartment communities in Los Angeles in 2014, these acquisitions include:

·         Coldwater Canyon, a 39-unit property in Studio City, Calif. acquired in September 2014.
 ·         5119 Maplewood, a 60-unit property in Hancock Park, Calif. acquired in April 2014.
 ·         5015 Clinton, a 50-unit property in Hancock Park, Calif. acquired in April 2014.
Raintree’s Director of Acquisitions, Aaron Hancock, explains, “The acquisition of these five properties in addition to the three acquired earlier in the year represents the continued rollout of our investment strategy, which targets smaller properties in A locations within Los Angeles that can be clustered over time.

Pico Lanai Apartments, Santa Monica, CA
“As we gain critical mass in these targeted sub-markets, we will be able to achieve management efficiencies which should lead to higher returns than investing in larger properties in the same sub-markets, which tend to trade at more aggressive cap rates.”

For a complete copy of the company’s news release, please contact:

Amanda Brenner / Judith Brower
Brower, Miller & Cole
(949) 955-7940


Hold-Thyssen Negotiates Leases with Two Long Time Tenants at Counsel Square in New Port Richey, FL

Carol L. Kinnard
TAMPA, FL --- Carol L. Kinnard, transaction specialist at Hold-Thyssen, Inc., a commercial real estate services firm based in Winter Park with offices in Tampa, recently negotiated two lease renewals with long-time tenants at Counsel Square in New Port Richey.  

Pasco County Sheriff’s Child Protection Team, a tenant for over 10 years renewed the lease of Suite 201E with 23,771± square feet encompassing the entire second floor of Counsel Square II located at 7601 Little Rd. directly across the street from West Pasco’s Government Center.

Sheriff’s Dept. Director Ken Killian who worked with Kinnard and the landlord said, “I’m committed to our community to do my part in strengthening community partnerships that ensure our children can grow in safe and nurturing environments.”

Ken Kilian
At the same time, Kinnard negotiated a renewal agreement for a newly renovated 1,000 square foot suite at Counsel Square I, 7619 Little Rd.   

The tenant Psychological Management Group, PA has been a tenant at Counsel Square I for 15 years providing the West Pasco community with mental health services and training for affected families.

Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than100 commercial properties throughout the United States.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142