SAN DIEGO, CA / ACCESSWIRE / August 25, 2020 / San Diego-based real estate entrepreneur Ralph Giannella, one of the nation's leading authorities on buying and transforming residential real estate, announced that he will be spearheading the rehabilitation and modernization of an apartment complex located at 2121 Thomas Avenue in San Diego.
The property was recently purchased by Ralph Giannella in partnership with Pasadena-based Gatehouse Partners, LLC, a private equity firm that specializes in investments in real estate developments and operating companies that focus on building materials, mining and agricultural operations.
2121 Thomas Avenue is ideally located in the Crown Point community of Pacific Beach, and conveniently within walking distance of parks, schools, shops, restaurants, entertainment destinations, recreation options, the beach and bays, and many other desirable amenities that the Pacific Beach lifestyle has to offer.
Once renovations to the 50-year old building are complete, each home will feature a new custom-designed kitchen with state-of-the-art appliances, bright and spacious new bathrooms, in-unit washer and dryer, energy-efficient air conditioning, home automation technology, and high-end fixtures and finishes throughout.
"2121 Thomas Avenue has served San Diego's rental community very well for half a century," commented Ralph Giannella, who since 1995 has personally bought, developed, and sold over $800,000,000 of real estate, including large scale apartment buildings, multi-million dollar luxury homes, and over 2,000 apartments homes. "Now, it is time to breathe new life into this special property through a comprehensive modernization. We are not just going to bring 2121 Thomas into the 21st century, but we are going to make it the most prestigious building in Pacific Beach - so that it will delight residents and beautify the community for many more decades to come."
Ralph Giannella and his partners have an impressive track record of transforming and re-inventing older properties, such as the El Amore building located at 3233 Herman Avenue in San Diego's trendy and upscale North Park neighborhood.
"Before we finished modernizing the El Amore building, we had a waiting list of eager residents who wanted to take advantage of the unique opportunity to live in an elegant and fully modernized home, located in a coveted neighborhood within one of the most desirable cities in the world," commented Ralph Giannella. "We expect to see the same excitement and interest with 2121 Thomas Avenue, given its' location in this highly sought-after Pacific Beach neighborhood. "
About Ralph Giannella
Based in San Diego, for more than 25 years, Ralph Giannella has played a significant role in the modernization of San Diego's aging inventory of apartment buildings and houses. He has personally bought, modernized and sold over 2,000 apartment and condominium homes, hundreds of single-family houses, large scale apartment complexes and has built many multi-million dollar luxury homes. Ralph 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.
About Gatehouse Partners, LLC
Based in Pasadena, California, 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. The firm invests alongside talented, experienced and high-quality local management teams and often provide liquidity for business owners, equity for key management and capital for profitable growth. Over the last 10 years, the firm's primary objective has been to create long-term value for operating partners and investors.
Contact:
Ralph Giannella
[email protected]
SOURCE: Ralph Giannella