Demmon Partners is a family-owned and operated real estate investment, management, and development firm specializing in the apartment sector.
Since 1960, Demmon Partners has focused on high-quality multifamily real estate development in Silicon Valley and beyond. We are experienced opportunists, accountable managers, and thorough strategists. We’ve owned and managed over 5,000 units in the last 30 years including a current, wholly-owned portfolio of 2,000 units. In addition to purchasing institutional quality apartment communities in the market, Demmon Partners has developed for its own account 6 institutional sizes, ground up, apartment projects with nearly 1,500 units. Our goal is to add value to our portfolio through intelligent investing, responsible oversight, and hands-on management.
Premier apartment community in Santa Clara
In a joint venture in 1968, we acquired a prime parcel of land adjacent to a golf course and park to build Santa Clara’s premier apartment complex. The highly visible location near three main thorough-fares helped us to quickly achieve and maintain one of the highest rates in the area. Even during the economic downturn of the 1970s, occupancy remained above 90 percent. Through diligent on-site management, the Summerwood Apartments generated solid returns for our investors until we sold the property at the market’s peak in 1990.
Rain leads President Ford to Demmon owned offices
Constructed in 1975, this award-winning garden office complex was a joint venture with Phoenix Mutual Life Insurance. We leased the space to a strong mix of financial industry tents, including Dean Witter Reynolds, Kidder Peabody, Massa-chusetts Mutual Life, Coroon and Black Insurance Brokers, and Bank of America. Several of these firms remain in the space today. Through consistent property management, occupancy at Garden Alameda constantly exceeded 95 percent, even during the over-built markets of the mid-to-late 1980s. We successfully sold the complex in 1990.
Location and management– a winning combination
We identified this multi-family residential complex as a high-quality property on the fast-growing Fresno marketplace. Located in an established neighborhood adjacent to a rapidly expanding business center, Crown Point will draw from a strong tenant base for years to come–offering the potential for excellent, long-term returns. When we acquired it, the complex had a top occupancy rate of 79 percent. On-site management and full-time maintenance have enhanced Crown Point’s appeal to prospective tenants, successfully lowering the vacancy rate to less than 5 percent.
Commitment to Multi-Family
We decided in the early 1990’s to make a full commitment to multi-family investment and management. We sold a trophy office building and industrial complex and reinvested in Apartment communities in Sacramento and Fresno. In addition, we invested in two parcels in Fresno zoned for multi-family. We sold our last office building and exchanged into our once in a lifetime community, Harbor Oaks Apartments in Sacramento.
Targeted and strategic Multi-family Investments
Acquired and developed our Rocklin Ranch Apartments in Rocklin. With the debt and Mezzanine debt from Key bank, we purchased two large complexes totaling 856 units in Rocklin. We subsequently sold one complex and used the profit to pay down debt and Mezzanine debt on the larger complex. Continue to improve and expand apartment management.