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Cityview and Stockbridge Start Work on 265-Unit Res Project in L.A.’s South Bay 9/14/23 Construction is underway on Apollo, a 265-unit multifamily development in Los Angeles’ South Bay. Slated to complete in 2025, the LEED Silver, transit-oriented development is located in a high-growth area of the South Bay nea...
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MG Properties Pays $90 Mil for Bay Area Res Community 9/14/23 MG Properties acquired Artist Walk Apartments, a 185-unit res community in Fremont, for $89.75 mil. The development, constructed in 2017, includes 30k sf of ground-floor retail.
Artist Walk Apartments is located at 3888 Arti...
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Gelt Venture Partners Buys 125-Unit OC Res Community for $63 Mil 9/12/23 Gelt Venture Partners LLC (GVP) has acquired Union Place, a 125-unit multifamily community in the Orange County city of Placentia, for $63.15 mil ($505.2k/unit). The property is situated on just over five acres at 1500 Cherry...
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Advanced Real Estate Spends $96 Mil on Huntington Beach Res Community 9/11/23 Advanced Real Estate closed on a $96 mil res buy in Huntington Beach. The company bought a 264-unit ($363.6k/unit) property formerly known as Citron House, located at 7701 Warner Ave, just west of Beach Blvd.
The property,...
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Tempe, AZ Apartment Community Refinanced with New Loan for $16.5 Mil 9/11/23 Lakeview at the Bay, a 370-unit, Class B apartment complex in Tempe, AZ, has been refinanced with a new permanent loan for $16.5 mil. Built in 1985, the 34-building complex is located at 995 E. Baseline Rd in Tempe, a Metro P...
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Phase 1 of Riverwalk San Diego Awarded $41 Mil Grant from Affordable Housing and Sustainable Communities 9/08/23 A transformative development that will create energy-efficient affordable housing alongside a new Trolley station in Mission Valley is the only San Diego County project awarded funding this year from a leading-edge State of C...
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Multifamily Construction Slows as Rent Growth Eases and Access to Money Tightens 9/08/23 This update provided by real estate services firm Institutional Property Advisors
Institutional Property Advisors (IPA) has published a new national report, Pullback in Multifamily Construction Starts. Below is a quick look ...
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New Res Tower in L.A.’s Koreatown Opens to the Public 9/07/23 Hallasan, a new high-rise apartment tower in the heart of Koreatown, has opened to the public. The project, located at 696 S. New Hampshire Ave, was developed by Holland Partner Group.
MVE + Partners, renowned for their inno...
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IDM Companies Obtains $62.6 Mil in Construction Money for Phoenix Res Project 9/06/23 IDM Companies has landed $62.625 mil in construction financing for Meritum Sonoran Desert, a 348-unit, garden-style multi-housing development in Phoenix. The financing was arranged by JLL Capital Markets and funded through a ...
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Whittier Apartment Community Sells for Over $30 Mil 9/06/23 Citrus Court, a 138-unit apartment community in Whittier, sold for $31.25 mil, or $226k/unit. The garden-style community, located at 8121 Broadway Ave, is encumbered by a 99-year ground lease with 41-years remaining.
Built i...
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Culver City Mixed-Use Project Sells for Over $29 Mil 9/01/23 The Oliver, a mixed-use property with 30 multifamily units and 8.7k sf of ground-floor retail space in Culver City, recently traded hands for $29.25 mil, or $780k per unit. Built in 2016, the property is located at 11955 W. W...
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ColRich Buys 228-Unit Res Property in Bend, OR 8/29/23 ColRich has purchased Seasons at Farmington Reserve, a 228-unit multifamily community in Bend, OR. The seller was Seattle-based Security Properties.
Located at 61560 Aaron Way, the garden-style community was built in 2017 an...
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Oakland Apartment Trade Works Out to $242k/Unit 8/28/23 An apartment trade in Oakland consisting of two side-by-side twenty-four-unit apartment buildings came in at $11.65 mil, or $242.7k/unit. The properties, located at 237-263 41st St, offer a mix of one- and two-bedroom units.
...
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JRK Property Holdings Pays $93 Mil for 300-Unit Multifamily Community in San Jose 8/28/23 JRK Property Holdings has acquired Duo Apartments, a 301-unit Class A multifamily community in San Jose, for $93.5 mil ($310k/unit). The purchase was financed with a loan for $62 mil.
Duo marks the third acquisition out of ...
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Abacus Capital Group Makes $95 Mil Res Buy in Oregon 8/24/23 An affiliate of Abacus Capital Group purchased Lumina Apartments, a 440-unit multifamily community in Gresham, OR, for $96.7 mil ($220k/unit).
Located at 2700 W. Powell Blvd, Lumina was built in 1994 with unit renovations co...
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High Barriers to Homeownership is Boosting Demand for High-End Apartments 8/21/23 This report provided by Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA), a division of Marcus & Millichap, has released its Class A Multifamily Outlook Midyear 2023 special report. The firm shared...
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Community Preservation Partners Buys 44-Unit Affordable Housing Project in Palm Springs 8/18/23 CPP (Community Preservation Partners) acquired Sunnyview Villa, a 44-unit affordable housing property in Palm Springs. The community, located at 2950 N. Indian Canyon Rd in North Palm Springs near the historic Racquet Club We...
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Work Wrapped Up on 296-Unit Res Project Near Downtown LA and USC 8/18/23 Cityview has completed work on Jasper, a 296-unit opportunity zone mixed-use project located less than two miles from downtown Los Angeles and adjacent to the University of Southern California. The highly amenitized, mixed-us...
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MIG Real Estate Closes $61 Mil Res Buy in Orange County 8/17/23 In a notable OC multifamily buy, MIG Real Estate LLC purchased Newport Palms, a 138-unit apartment complex in Costa Mesa, for $61.1 mil ($443k/unit). According to MIG, this is the largest multifamily investment in the city in...
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OC Four-Plex Goes for Nearly $400k/Unit 8/11/23 A four-unit multifamily property in Orange County sold for $1.59 mil ($397.5k/unit), in a deal that came in at 99% of the list price and $462 per square foot. The single-story property is located on a spacious 10.8k sf parcel...
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