SAN DIEGO, CA / ACCESSWIRE / January 4, 2021 / Gatehouse Multifamily, LLC just announced the acquisition of the apartment complex located at 3630-46 Eagle Street San Diego, CA 92103. Gatehouse Multifamily is lead by Ralph Giannella, one of the nation's leading authorities on buying and transforming older residential properties.
Located in a quiet residential neighborhood of Mission Hills, the property is uniquely situated on the edge of a canyon and nature preserve that is unmatched anywhere in metro San Diego. "The tranquility of the canyon and nature preserve is intoxicating. When I first saw it, I sat there on the edge of the canyon for an hour just absorbing the nature and the gentle breeze, while watching a couple of hawks flying through the canyon", explained Giannella.
From the tranquility of nature to the accessibility of the city, this property has everything: "Considering how peaceful this setting is, it's hard to believe that the excitement, nightlife, restaurants and bars of Hillcrest is only a short walk, scooter or bike ride away. Little Italy and Downtown Gaslamp Quarter are only a 5 minute drive." In the backdrop of the canyon is a view of the downtown San Diego skyline. Each of the 1 and 2 bedroom apartment homes will be redesigned with new kitchens, new bathrooms, in-unit washer/dryer, central air conditioning, home automation technology and high end interior fixtures and finishes.
Ralph Giannella and his partners have an impressive track record of transforming and re-inventing older properties, such as the El Amore building in San Diego's trendy and upscale North Park neighborhood and 2121 Thomas Avenue in Pacific Beach which is currently being modernized.
Gatehouse Partners, LLC is a private equity firm that specializes in investments in real estate developments and operating companies that focus on building materials, mining and agricultural operations. Based in Pasadena, California, Gatehouse invests alongside talented, experienced and high-quality local management teams. Gatehouse investments often provide liquidity for business owners, equity for key management and capital for profitable growth. The company's primary objective over the last ten years has been to create long-term value for its operating partners and investors.
Ralph Giannella/Black Iron Development: For more than 25 years Ralph Giannella and his company Black Iron Development Inc.have played a significant role in the modernization of San Diego's aging inventory of apartment buildings and houses. Ralph Giannella has purchased and modernized over 2,000 apartment and condominium homes, hundreds of single-family houses, large scale apartment complexes and has built many multi-million dollar luxury houses. Giannella has a diverse entrepreneurial background dating back to the early days of the Internet, when he and his partners founded the San Diego-based Bank of Internet and took it to a public listing. Bank of Internet (since re-branded as Axos Bank) currently trades on the NYSE.
SOURCE: Ralph Giannella
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