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• Meta Housing Starts Work on Affordable Housing Project in Downtown L.A.
6/10/20
Meta Housing has broken ground on Lamp Lodge, an 82-unit affordable housing community in Downtown Los Angeles. Located at 660 Stanford Ave, the seven-story, contemporary-style building will provide an affordable housing solut...
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• Virtú Investments Buys 204-Unit OR Multifamily Asset
6/10/20
Virtú Investments has acquired Modera Davis, a 204-unit, luxury high-end residential community located in Portland’s Pearl District. The price was not disclosed.
Modera Davis is located at 215 NW 10th St within the affluent ...
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• Hines and MetLife Investment Management Start Work on Res Project in Concord
6/09/20
Hines and MetLife Investment Management have begun construction of The Grant, a 228-unit mixed-use complex in the Bay Area city of Concord. The upscale project, spanning two adjacent blocks in the city’s downtown, is convenie...
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• Wealhouse Capital Management and Western Wealth Capital Land $185 Mil Refinancing on AZ Res Portfolio
6/08/20
A venture between Wealhouse Capital Management and Western Wealth Capital has secured $185.63 mil in refi money on a 1,439-unit Arizona multifamily portfolio. The collateral consists of five properties in the Phoenix area.
J...
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• Prometheus Real Estate Acquires Silicon Valley Res Asset
6/04/20
Prometheus Real Estate has closed on a sizable Silicon Valley multifamily acquisition, paying about $70 mil for Gardens of Fontainbleu, a 125-unit ($560k/unit) complex in Cupertino. The property is located at located at 10200...
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• San Gabriel Apartment Building Gets New Owner in $5 Mil Deal
6/03/20
A 13-unit apartment property in the city of San Gabriel was acquired by a private buyer for $5.1 mil, or $392k/unit. The asset was sold by a local family office looking to trade into triple-net, single-tenant assets out of st...
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• Coastal Carlsbad Res Building Sells for $383k/Unit
6/02/20
Maple Polynesian Apartments, a 6-unit residential complex in Carlsbad, was purchased by LA Mer Properties LP for $2.3 mil ($383k/unit). The 3.6k sf property is located at 137 Maple Ave, just a few doors east of Carlsbad Blvd ...
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• Forge Development Partners to Transform Underutilized San Francisco Property into Workforce Housing
6/02/20
Forge Development Partners (Forge) has formed a venture with Fifth Church of Christ, Scientist to transform the underutilized Church property at 450 O’Farrell St in San Francisco into a 310-unit, high-tech rental home communi...
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• Burbank Development Site Trades in $40 Mil Deal
6/01/20
An eight-acre development parcel in the city of Burbank traded hands in a $40 mil transaction. The site is located at 777 Front St, on the south side of Burbank Blvd in the city’s downtown, and offers over 1,100 feet of front...
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• Investor Spends $340k/Unit for Hollywood Hills Apartment Building
6/01/20
A Beverly Hills-based private investor paid $1.7 mil for a lender-owned, five-unit ($340k/unit) apartment property in the Hollywood Hills. The property is located at 1954 Argyle Ave, north of Franklin Ave on the east side of ...
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• Local Investor Spends $26.8 Mil on Bay Area Multifamily Asset
5/29/20
The Lakes, a 102-unit value-add multifamily community in the Bay Area city of Concord, was acquired by an Atherton-based family investment group in a $26.8 mil transaction, which works out to around $263k/unit.
Originally c...
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• Legacy Homes Lands $86 Mil Refi on NoCal Res Community
5/29/20
Legacy Homes has obtained an $86.2 mil Freddie Mac refi loan on Aspire Apartments, a 348-unit apartment community in Tracy, a NoCal city roughly 20 miles southwest of Stockton. Aspire Apartments is located at 2725 Pavilion Pk...
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• Older Apartment Building in San Diego’s Pacific Beach Area Sells for $356k/Unit
5/29/20
An eight-unit complex in San Diego’s Pacific Beach neighborhood sold for $2.85 mil, or $356.3k/unit. The 5.3k sf property sits on a 6.2k sf lot located at 1524 Missouri St, north of Mission Bay roughly midway between I-5 and ...
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• MBK’s Urban Res Development in Menifee Finishes Construction and is Now Leasing
5/28/20
Artesa at Menifee Town Center, a Spanish mission-style apartment community developed by MBK Rental Living in Menifee, is now completed and available for leasing. Offering urban-style living in a walkable, small-town setting, ...
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• Coastal Rim Properties Buys Hawaii Res Tower Site
5/27/20
In news of an upcoming Hawaii res project, Coastal Rim Properties Inc acquired a prime 0.30-acre (12.8k sf) land parcel in downtown Honolulu, on which the firm intends to develop a brand new, 20-story affordable senior housin...
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• Paramount Multifamily Property Purchased for $4.7 Mil by Exchange Investor
5/27/20
Capetown Village, an 18-unit multifamily property in Paramount, was purchased by a private investor for $4.7 mil, or $261k/unit.
Located at 7205 Motz St, Capetown Village was originally constructed in 1986 and is comprised ...
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• Community Preservation Partners and The Hampstead Companies Undertake $26 Mil Affordable Housing Rehabilitation Project in Montana
5/26/20
Community Preservation Partners (CPP), in a partnership with The Hampstead Companies, has acquired its first property in Montana – the Ponderosa Acres Apartments located in Billings. The purchase is the first step in a rehabi...
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• Decron Properties Buys 188-Unit Bay Area Res Property for $71.5 Mil
5/26/20
Decron Properties has acquired Rancho Luna Sol, a 188-unit multifamily community in Fremont, CA for $71.5 mil, or $380.3k/unit. With its acquisition of Rancho Luna Sol, Decron increased its regional portfolio to 1,054 units o...
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• Greenlight Communities Completes Two AZ Attainable Housing Communities
5/25/20
Greenlight Communities has completed development of two attainable housing communities in Phoenix, AZ. The communities provide a solution to rising apartment rents and the persistent need for more affordable housing, which ...
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• Unique Pacific Palisades Coastal Vineyard Property Hits the Market
5/25/20
We’ve learned of an opportunity to acquire a unique, 1.5-acre coastal vineyard estate with a storied past in the SoCal community of Pacific Palisades. The property is perched on a crest overlooking Las Pulgas Canyon and the P...
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