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• Xenon Investment Corp Pays $21 Mil for West Hollywood Res Property
3/30/21
Xenon Investment Corp purchased The Hollywood Regency Apartments, a 60-unit multifamily property in West Hollywood, for $21.3 mil ($355k/unit). The asset, located at 1635-1639 N. Martel Ave, is viewed as a value-add opportuni...
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• Hamilton Zanze Acquires 145-Unit OR Res Asset
3/29/21
In a notable multifamily trade in Oregon, purchased Courtyard at Cedar Hills, a 145-unit, value-add community in Beaverton, for $32.15 mil ($222k/unit). The asset was sold by Virtu Investments.
Courtyard at Cedar Hills comp...
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• NoCal Investors Trade Modesto Multifamily Community in $17.5 Mil Deal
3/26/21
Trails at 212 Apartments, a 97-unit community in Modesto, sold for $17.55 mil, or $181k per unit. Built on a 5.32-acre site in 1985, Trails at 2112 Apartments is located at 2112 Floyd Ave, with significant exposure on frontin...
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• Tower 16 Capital Partners and Drake Real Estate Partners Pick Up 200-Unit AZ Res Property
3/24/21
La Mirada Apartments, a 201-unit multifamily project in Tucson, AZ, was purchased by San Diego-based Tower 16 Capital Partners and Drake Real Estate Partners. The property was acquired from a private seller in an off-market t...
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• Meta Housing Corporation Starts Work on 100-Unit Affordable Housing Project in Palmdale
3/23/21
Meta Housing Corporation has broken ground on a 101-unit affordable multifamily housing development in Palmdale. The 123.4k sf property, Juniper Grove, is being built by RAAM Construction.
Located at 150 East Avenue R will c...
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• McMullin Drake Investments Buys Multifamily Property in Hollywood
3/23/21
McMullin Drake Investments purchased an 18-unit multifamily property in Los Angeles in a recent transaction worth $5.225 mil, or $290k per unit. The property, built in 1985, traded at a cap rate of 5.0%.
The property is loca...
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• Apartment Building in the Willmore City Historic District of Long Beach Goes for Over $300k per Unit
3/22/21
A 10-unit apartment property within the Willmore City Historic District of downtown Long Beach has traded hands for $3.175 mil ($318k/unit). The property, located at 310 West 8th St, was purchased by an L.A.-based 1031 exchan...
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• Long Beach Apartment Building Sells for $250k per Unit
3/19/21
An L.A.-based exchange investor paid $2 mil for an eight-unit ($250k/unit) apartment property in the Eastside neighborhood of Long Beach. Located at 1335 Stanley Ave, the property was sold by a private investor who completed ...
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• San Diego Mulitfamily Sale Comps at $228k/Unit
3/18/21
Las Palmas Apartments, an 18-unit multifamily property in San Diego, traded for $4.1 mil, which works out to about $228k per unit. The property is located at 3864 35th St, east of I-805 and just south of University Ave within...
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• Work Gets Underway on High-Rise Res Project in Downtown Salt Lake City
3/18/21
Construction has started on a 190-unit, mid-rise and high-rise, mixed-use community at 255 South State Street in downtown Salt Lake City, UT. The project, designed by KTGY Architecture + Planning, is being developed by Brinsh...
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• PCCP LLC and CalSTRS Lead New Venture to Acquire Single-Family Rental Communities
3/17/21
PCCP LLC, together with the California State Teachers' Retirement System (CalSTRS) and a global institutional investor, has formed a joint venture to invest in purpose-built, single-family rental communities located in primar...
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• 29th Street Capital Closes 200-Unit San Diego Res Buy
3/17/21
29th Street Capital, a Chicago-based multifamily investment firm, has acquired Villa Del Sol, a 203-unit multifamily community in San Diego, for $49.3 mil ($243k/unit). The asset was sold by a local family who owned the prope...
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• JRK Property Holdings Spends $90 Mil on Luxury Res Property in Downtown Glendale
3/16/21
JRK Property Holdings Inc has acquired The Harrison Glendale, a 164-unit, luxury multifamily property in Downtown Glendale, in an off-market transaction for $90.7 mil ($553k/unit). Built in 2018, the property is located at th...
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• Apartment Building In San Diego’s North Park Neighborhood Goes for Over $500k/Unit
3/16/21
A six-unit multi-family property located San Diego’s North Park neighborhood traded for $3.19 mil, or $532k per unit.
The 6k sf building includes all two-bedroom/two-bathroom floorplans with completely renovated interior and...
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• Cavan Companies Lands $62 Mil in Construction Money for AZ Res Project
3/15/21
Cavan Companies obtained $62 mil in construction financing for Bungalows on Cotton Lane, a new 336-unit single-story, built-to-rent community situated on 35.34 net acres in Glendale, AZ.
Bungalows on Cotton Lane is located a...
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• Anton DevCo Buys Santa Cruz Development Site
3/15/21
Anton DevCo acquired a 1.44-acre development site in downtown Santa Cruz. The sale consisted of multiple parcels located at Laurel St and Pacific Ave. Anton DevCo recently commenced construction at the site on a new 205-unit ...
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• First Phase of Dallas Luxury Multifamily Project Completed
3/12/21
KBS and Southern Land Company have completed the first phase of a ground-up development: Novē at Knox, a 309-unit Class A luxury multifamily complex in the Knox/Henderson district near Downtown Dallas, TX. The final comp...
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• Mountain Capital Partners (MCP) and New Earth Equities Pick Up 99-Unit Res Property in Portland
3/12/21
Harbour Court, a 99-unit apartment community in Portland, OR, was purchased by a joint venture between Mountain Capital Partners (MCP) and New Earth Equities (NEE). MCP partnered with NEE as the LP and was instrumental in the...
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• Cityview to Move Forward with 296-Unit, Transit-Oriented Res Development Near USC
3/11/21
In development news out of Los Angeles, Cityview has obtained $81 mil in construction financing to develop Adams & Grand, a mid-rise, transit-oriented, multi-housing building within a Qualified Opportunity Zone just south of ...
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• Fresno Multifamily Community Traded for $29 Mil Between SoCal Investors
3/11/21
In a recent Fresno multifamily trade, a SoCal-based investor paid $29.25 mil for Park West Apartment Homes, a 256-unit ($114k/unit) residential rental community. Built in 1973, Park West Apartment Homes is located on a 23-acr...
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