| Investor Pays Over $300k/Unit for Long Beach Res Property
Junipero Apartments, a 16-unit community in Long Beach, traded for $4.9 mil ($306k/unit), with numerous offers. Built in 1987, Junipero Apartments is located at 1071 and 1075 Junipero Ave, east of Cherry Ave and south of Anah...
| Shapery Enterprises Picks Up 208-Unit Res Community in San Diego
Shapery Enterprises, out of San Diego, purchased Mission Trails, a 208-unit apartment community in the San Carlos neighborhood of San Diego. The price was not disclosed.
Located at 6975 Golfcrest Dr, the 175.2k sf property w...
| Davlyn Investments Completes $95 Mil Sacramento Area Apartment Purchase
Davlyn Investments has purchased The Terraces at Highland Reserve, a 273-unit, Class A multifamily community in Roseville, CA, for $95 mil ($348k/unit). Constructed in 2002, the property will be re-branded as Ascent at the Ga...
| San Fernando Valley Res Development Lands $82 Mil in Financing
A joint venture between Gelt and Uhon Inc has obtained new financing of $82.2 mil on The Watermark, a soon-to-be-delivered, 250-unit multifamily building located in the San Fernando Valley community of Reseda. The loan was or...
| Knightvest Capital and Torchlight Investors Acquire 342-Unit AZ Residential Property
A partnership between Knightvest Capital and Torchlight Investors paid $87 mil for Shade at Desert Ridge, a 342-unit ($254.4k/unit) multifamily community in Phoenix.
Built in 2007, Shade at Desert Ridge amenities include a ...
| AZ Multifamily Property Trades for $31 Mil
The Sterling, a 107-unit community in Gilbert, AZ, sold in a recent, $30.9 mil ($289k/unit) deal. The property, located 23 miles southeast of downtown Phoenix, was acquired by Casa Anita Apartments LLC.
The Sterling, previo...
| Affordable Res Community in Redwood City is Welcoming Its First Tenants
Fair Oaks Commons, a new, 100% affordable residential rental community in Redwood City, has been completed and is now welcoming tenants. The project, located at 2821 El Camino Real, is a development of Alta Housing.
| TruAmerica Multifamily Makes Its First Buy in the Lone Star State
TruAmerica Multifamily closed on its first investment in the state of Texas with the acquisition of Arbors of Las Colinas, a 408-unit Class B apartment home community in the Dallas suburb of Irving. The price was not given ou...
| Private Investors Trade Phoenix Multifamily Property in $18.25 Mil Deal
Vesta on 12th, a 104-unit apartment community in Phoenix’ Uptown neighborhood, was purchased by a private investor out of Denver for $18.25 mil, or $175.5k per unit. The property was sold by a Portland, OR-based private inves...
| Two Los Angeles Apartment Properties Trade in Deals Totaling $20 Mil
Two multifamily properties in Los Angeles sold in separate deals that totaled about $20.5 mil. The assets have a combined 63 units.
In the larger deal, a 35-unit community at 7941 Selma Ave sold for $13.6 mil ($388.5k/unit)....
| Private Investor Money Buys 240-Unit AZ Res Community
Enclave at Arrowhead, a 240-unit res community in Peoria, AZ was acquired by a private family investment entity for $63 mil, or $262.5k/unit. The property was sold by R&V Management and Wermers Properties.
Built in 2006, Enc...
| SB Real Estate Partners Buys 224-Unit Apartment Complex in Phoenix
In a recent Phoenix res buy, SB Real Estate Partners (SBREP) has purchased Casa Anita Apartments, a 224-unit multifamily community located in the city’s West Valley submarket, for $35.3 mil ($157.6k/unit).
The property had ...
| Investors Trade 17-Unit Res Asset in Laguna Beach
Twin Palms, a 17-unit apartment property in Laguna Beach, has traded for $9.8 mil, or $576.5k/unit. The property was purchased by a Long Beach-based private investor.
Built in 1956, the two-building trophy property is locate...
| Village Development Begins Work on 71-Unit Mixed-Use Project in the Portland Area
Village Development LLC has started work on a new a mixed-use complex in Fairview, OR, a suburb of Portland. Village Development obtained a $12.5 mil construction loan from Parkview Financial to fund the project.
| Multifamily Property in Lake Elsinore Trades Hands
Lakehouse Apartments, a 128-unit value-add multifamily opportunity in Lake Elsinore, was purchased by Prism Multifamily Group, based in Ontario, Canada. It was sold by The Parker Equity Fund LLC, an affiliate of Forge Partner...
| CALCAP Advisors Picks Up 127-Unit Multifamily Property in Phoenix
California-based CALCAP Advisors paid $13 mil for University Commons, a 127-unit ($102.4k/unit) multifamily property in Phoenix. The property, located at 3450 W. Missouri Ave, directly across from Grand Canyon University (GCU...
| Wakeland Housing and Development Corporation Breaks Ground on Two L.A. Affordable Housing Communities
Wakeland Housing and Development Corporation has broken ground on two Los Angeles affordable housing communities. The projects - the 54-unit Amani Apartments and 43-unit Chesterfield Apartments - will bring much-needed low-co...
| Parkview Financial Provides $80 Mil Loan for Construction of Newport Beach Luxury Condo Project
One Newport Development LLC is slated to start vertical construction in early 2021 on Uptown Newport, a residential project consisting of 66 for-sale luxury condominiums in Newport Beach, thanks to an $80 mil construction loa...
| Hometown America Buys 200-Site Manufactured Home Community in the East Bay
Hometown America has acquired the 200-site Eden Roc manufactured home community in the San Francisco Bay Area city of Hayward. The purchase was financed with a $17.5 mil acquisition loan.
Situated on 21 acres, the Class A Ed...
| Next Wave Investors Buys TX Res Property
Next Wave Investors LLC purchased Shiloh Park Townhomes, a 73-unit multifamily community in Plano, TX, via a subsidiary company. The property, located at 3500 E. Park Blvd, was purchased from a private California-based seller...