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• Community Preservation Partners Rehabilitates Two Affordable Housing Projects Totaling 98 Units in Ogden, UT
7/18/19
Community Preservation Partners (CPP) has completed a $14.3 mil rehabilitation of two affordable living communities in Ogden, UT. The work covered 98 multifamily units at the 58-unit Normandie Apartments and the 40-unit Osmon...
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• San Fernando Valley Apartment Building Sale Provides $250k/Unit Comp
7/18/19
A private investor has acquired Casa Bryant, a 20-unit, mid-century apartment building in the western San Fernando Valley community of Canoga Park submarket, for $5 mil ($250k/unit). The property is located at 21024 Bryant St...
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• Downtown San Francisco Res Project Lands $77 Mil in Construction Money
7/17/19
A planned, 109-unit condominium project located in downtown San Francisco is one step closer to getting underway as the developer, Z&L Properties Inc, has secured $76.8 mil in construction money. The development, 1554 Market ...
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• Investor Pays $395k/Unit for San Gabriel Valley Apartment Building
7/17/19
In a recent multifamily sales comp from the San Gabriel Valley, an 11-unit property in Alhambra sold $4.35 mil, or $395.5k/unit, in an all-cash deal. The property, The Courts Alhambra, is located at 1508-1512 W Huntington Dr,...
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• Pacific Apartment Homes Wraps Up New Santa Monica Res Project
7/17/19
Pacific Apartment Homes has completed construction of Pico Eleven, a 32-unit residential housing project in downtown Santa Monica, just blocks from the beach. The 33k sf project, located at 1112–1122 Pico Blvd, was designed b...
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• Sunroad Enterprises Secures $222 Mil in Refinancing on Two Kearny Mesa Res Complexes
7/16/19
Sunroad Enterprises has obtained $222.5 mil in refi money on two, Class A multi-housing properties totaling 803 units within the 232-acre Centrum Master Plan in San Diego’s Kearny Mesa submarket. The 10-year, fixed-rate loan ...
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• ColRich Buys 220-Unit Multifamily Property in Sacramento
7/15/19
In a Sacramento multifamily investment deal, ColRich paid $36.25 mil for The Luxe, a 220-unit ($165k/unit), 164.8k sf residential community. With this acquisition, ColRich now owns over 1,100 units in the Sacramento MSA.
Lo...
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• San Marcos Mobile Home Community Sells for $11.5 Mil
7/15/19
El Dorado Park, an 8.27-acre mobile home community located in San Marcos, sold for $11.5 mil. The property is located at 1515 Capalina Rd, west of I-15 and just north of Hwy 78.
El Dorado Park includes 93 mobile home spaces ...
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• West Los Angeles Apartment Property Sale Comes in at 3.7% Cap Rate
7/12/19
An OC-based private investor paid $3.29 mil for Ocean Park Gardens, a seven-unit ($470k/unit) apartment property located on the Westside of Los Angeles. The deal had a closing cap rate of 3.7% and a price per square foot of ...
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• West Los Angeles Land Assemblage Sale Goes for Over $600/sf
7/11/19
A rare triple-lot multifamily assembly in West Los Angeles has sold for $9.4 mil, or $613/sf. The properties are located at 10448, 10456 and 10460 Santa Monica Blvd, just west of Beverly glen Blvd at the edge of Century City....
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• Affordable Seniors Housing Project Breaks Ground in the East Bay
7/11/19
Alameda Point Senior Apartments, a 60-unit affordable rental community for seniors age 62 and older in the East Bay city of Alameda, has just broken ground. The project is being built through a partnership between Eden Housin...
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• Apartment Building in L.A.’s Los Feliz Neighborhood Trades at 3.42% cap rate
7/11/19
A 16-unit multifamily community in Los Angeles’ Los Feliz neighborhood was purchased for $5.45 mil ($340.6k/unit) by an unidentified family trust. The property is located at 2807-2813 St George St, south of Los Feliz Blvd and...
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• Vegas Multifamily Portfolio Trades in $137 Mil Deal
7/10/19
A three-community, 1,194-unit multifamily portfolio in Las Vegas traded hands in a $137.5 mil ($115.2k/unit) transaction. The assets were sold by Continental Realty Advisors Ltd (CRA) and San Francisco-based real estate inves...
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• Apartment Building in L.A.’s Silverlake Area Sells for $281k/Unit
7/10/19
A 32-unit apartment building in the Echo Park area of Los Angeles traded hands in a recent $9 mil deal, giving the property a per unit price of $281.3k. The property is located at 1416 Echo Park Ave, east of Alvarado St and n...
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• Two Belmont Multifamily Properties Fetch $25 Mil in Separate Deals
7/09/19
We’ve learned of two multifamily property sales totaling $25 mil in the Bay Area city of Belmont, a high-barrier to entry market in San Mateo County. Adam Levin and Robert Johnston with Levin Johnston represented the seller, ...
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• BPM Real Estate Group Set to Break Ground on 35-Story Mixed-Use Tower in Downtown Portland
7/09/19
An affiliate of Mosaic Real Estate Investors has provided BPM Real Estate Group with $460 mil in senior construction financing for a 1 msf, mixed-use development slated to break ground this summer in Portland. The 35-story B...
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• Hawaii Res Community Project Lands Over $40 Mil in Financing
7/08/19
The Michaels Organization has obtained $40.6 mil in financing across four loans for Keahumoa Place Apartments, a new garden-style affordable housing community to be built in Ewa Beach, Hawaii. Located just 20 miles west of Ho...
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• El Cajon Res Property Sells for $184k/Unit
7/08/19
Casa Del Sol Apartments, a 20-unit multifamily complex located in the East County area of San Diego, traded hands for $3.68 mil, or $184k/unit. The 15.4k sf property is located at 922 S. Sunshine Ave, off I-8 in El Cajon.
Th...
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• Venture Between firms in China and Las Vegas Acquires Multifamily Development Site in Seattle
7/03/19
A 16.7k sf multifamily development site in downtown Bellevue, WA sold for $11.26 mil in an off-market deal. The site, located at 10050 NE 10th St, was acquired by Binjiang Limited Partnership (“Binjiang”) and its partner, Mol...
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• LaTerra Development to Develop Two Res Projects in Santa Monica Totaling 99 Units
7/03/19
LaTerra Development has begun construction on the first of two apartment projects in Santa Monica, at the corner of Broadway Ave and Cloverfield Blvd. The second project, at the corner of Santa Monica Blvd and Yale St, is set...
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