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• Long Beach Multifamily Value-Add Opportunity Goes for $72 Mil
2/26/19
Friendly Franchisees Corporation paid $72 mil for The Landing at Long Beach, a 206-unit ($350k/unit) property in Long Beach. The asset, located at 1613 Ximeno Ave, was sold by Western National Realty Fund II L.P., an investme...
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• 37-Unit Apartment Community in Menifee Breaks Ground
2/25/19
Artesa at Menifee Town Center, a Spanish mission-style apartment community located in the heart of Menifee, has broken ground. The project, a development of MBK Rental Living, will offer 37 two- and three-story walk-up apartm...
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• Long Beach Apartment Building Traded at $325k/Unit
2/25/19
A 16-unit apartment property in the Rose Park neighborhood of Long Beach sold for $5.2 mil, or $325k/unit. The property is located at 640 Stanley Ave, just blocks from the trendy Fourth Street/Retro Row area and is just seven...
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• Raintree Partners Acquires 333-Unit Res Property in San Diego’s UTC
2/25/19
Regents La Jolla, a 333-unit, mid-rise multi-housing building in La Jolla, was purchased by Raintree Partners. The property, situated on approximately 8.48 acres at 9253 Regents Rd, was sold by LaSalle Investment Management ...
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• San Antonio Res Project to Move Forward with $37.5 Mil in Acquisition, Construction and Equity Financing
2/22/19
David B. Norton Inc has arranged $37.5 mil in ground-up financing for the acquisition and development of a 340-unit, garden-style apartment complex outside of San Antonio, TX. The financing stretched to 98.5% of the total cos...
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• Luxury Residential Development Opens in Glendale
2/21/19
NEXT on Lex, a new residential and retail mixed-use community in Glendale, has opened to the public. We’re told the upscale project, a development of Century West Partners and Modern Luxury, is the largest for-rent community ...
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• MJW Investments Makes 95-Unit Res Buy in Washington
2/15/19
MJW Investments has acquired Kentwood Apartments, a 95-unit multifamily community located at 22425 Benson Rd SE, in Kent, WA. This is MJW’s second acquisition in the greater Seattle area as the company is currently focused o...
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• Seattle Multifamily Project Lands $13 Mil Refi Loan
2/14/19
CBRE Capital Markets’ Debt & Structured Finance team has secured $13 mil in refi money for Cubix North Apartments, a brand new multifamily development with 108 living units and 3.4k sf of commercial space in North Seattle.
...
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• Older San Diego Apartment Property Fetches $18 Mil
2/14/19
Willow Glen Apartments, a 97-unit multifamily property in San Diego, has sold for $17.9 mil ($184.5k/unit). The property is located at 3635-75 College Ave, east of I-15 and north of Hwy 94 in the Rolando section of the city.
...
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• San Diego Apartment Sales Comp Comes in at $125k/Unit
2/13/19
A 20-unit apartment complex in San Diego’s City Heights neighborhood sold for $2.5 mil, or $125k/unit. The 11.9k sf property is situated on a 23k sf lot at 4348 53rd St, east of I-15 and just south of El Cajon Blvd.
Constru...
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• Sun Valley Apartment Property Goes for $192k/Unit
2/12/19
A 26-unit apartment complex in Sun Valley exchanged in a $5 mil ($192.3k/unit) transaction. At the time of the sale there was a federal tax lien along with a deed of trust which hadn’t been reconveyed.
The property is locat...
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• Two Hollywood Apartment Properties Trade for $211k/Unit
2/11/19
Los Angeles-based Lillian Way Capital Group LLC purchased two garden-style multifamily properties, totaling 32 units, in a prime area of Hollywood, for $6.75 mil, or $211k/unit. The properties, located at 750 and 760 Lillian ...
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• Two Bay Area Apartment Sales Total $20 Mil
2/08/19
We have comp info on two recent Bay Area two multifamily property sales totaling $19.88 mil. The deals, which include a 33-unit apartment community in Redwood City and a 25-unit apartment community in Mountain View, were both...
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• Bela Flor Communities Obtains $40 Mil in Financing for New AZ Res Community
2/07/19
Bela Flor Communities has landed $40 mil in financing for Bella Victoria, a newly built, 236-unit, high-end, multifamily property in Mesa, AZ. The property was nearly 94% leased at the time of construction completion.
The l...
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• Apartment Property in the Hollywood Area Sells for Just over $200k/Unit
2/07/19
In a recent L.A. multifamily sales comp, a 21-unit apartment property sold for $4.25 mil, or $202.4k per unit. The property is located at 6126 Eleanor Ave, west of the 101 Fwy on the south side of Santa Monica Blvd.
Built in...
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• Affirmed Housing Buys Vacant Parcel in Downtown San Diego
2/07/19
Affirmed Housing Group has acquired a 10k sf parcel in Downtown San Diego for $3.75 mil. The site, at the southeast, corner of Front and Beech Streets, adjacent to the city’s Little Italy neighborhood, was sold by Central Aut...
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• The Roy at Overland Adds 92 Res Units to West L.A.’s Palms Neighborhood
2/06/19
The Roy at Overland, a mixed-use housing project in West Los Angeles’ Palms neighborhood, is finished and is open to the public. The 92-unit complex was developed by Anejo Development LLC and Griffin Opportunities LLC, and de...
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• Trion Properties to Build 45-Unit Res Project with Kettner Construction in L.A.’s Mid-Wilshire
2/05/19
Trion Properties and Kettner Construction have teamed up to develop a 45-unit, luxury multifamily development in L.A.’s Mid-Wilshire neighborhood. Trion recently acquired a fully permitted and entitled 26.9k sf development si...
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• Crown Realty & Development to Move Forward with 96-Acre Master-Planned Community in North Phoenix
2/04/19
Crown Realty & Development has purchased 96.5 acres and acquired the “Master Developer” rights in North Phoenix’s Desert Ridge master planned community. The property and rights have been the subject of active litigation and ...
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• Phoenix Apartment Sales Comp Comes in at $120k/Unit
2/01/19
Sanctuary on 22nd, a 266-unit apartment community in Phoenix, sold for $31.8 mil ($119.5k/unit) in a recent deal. The property, located at 8530 N. 22nd Ave, was acquired by a private investor.
Built in 1985, Sanctuary on 22n...
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