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• Ridgecrest Multifamily Comps Works Out to $107k/Unit
8/30/22
Norma Street Apartments, a 66-unit multifamily community in Ridgecrest, sold for $7.1 mil ($107.5k/unit). The property is located at 800 South Norma St, east of Downs St and north of China Lake Blvd.
Built in 1992, the Norma...
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• E&S Ring Lands $46 Mil of Refi Loans on Trio of Bay Area Res Properties
8/30/22
E&S Ring has secured $46 mil in refi loans on a three-property multifamily portfolio in Pleasanton, CA. The garden-style portfolio consists of a combined 274 units and features community amenities including swimming pools and...
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• SummerHill Apartment Communities Wraps Up Work on New Multifamily Project in South San Francisco
8/30/22
Nine88, a new mixed-use, multifamily community situated in the heart of South San Francisco, has been completed and has officially opened its doors to the public. The 172-unit project, a development of SummerHill Apartment Co...
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• Adjacent Apartment Buildings in L.A.’s Brentwood Area Fetch $4.8 Mil
8/29/22
Two adjacent apartment buildings totaling 12 units in Los Angeles were sold for $4.8 mil ($400k/unit). The properties are located at 11307 Isleta St and 217 Church Lane in the Brentwood neighborhood on Los Angeles’ Westside.
...
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• Washington Multifamily Property Traded for $299k/Unit
8/26/22
Insignia Apartments, a 162-unit residential community in Bremerton, WA, sold for $48.5 mil, or $299.4k/unit. The seller was Security Properties.
Built in 2017, Insignia Apartments is a garden-style multifamily community with...
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• Washington Multifamily Project Lands $60 Mil Refi
8/25/22
The Park in Bellevue, a 184-unit multifamily project in Bellevue, WA, was refinanced by affiliates of Low Tide Properties and Continental Properties LLC with a new loan for $60 mil. Dave Karson, Alex Hernandez, Chris Moyer, A...
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• Downtown Seattle Development Parcel Trades for $17.5 Mil
8/25/22
A 0.61-acre site in downtown Seattle’s Belltown neighborhood was acquired by an unnamed buyer for $17.5 mil. The 26.6k sf parcel, located at 2700 1st Ave, is zoned for residential development up to 267 units.
The zoning allo...
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• Norpoint Communities Refinances Four Age-Restricted Res Properties in the Puget Sound Region
8/24/22
Norpoint Communities has landed $71.45 mil in separate permanent financings to refinance four 55-Plus age-restricted, active adult multifamily properties in the Puget Sound region. The financing was arranged by Gantry.
The p...
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• Sares Regis Group Closes on 386-Unit Multifamily Purchase in the Denver Area
8/24/22
Sares Regis Group has acquired Terracina Apartments, a 386-unit multifamily property in Broomfield, CO. The firm has obtained $139.9 mil in first mortgage money from Mesa West Capital for the acquisition and repositioning of ...
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• Three-Property Multifamily Portfolio in the San Gabriel Valley Gets a New Owner
8/23/22
A three-property, 116-unit multifamily portfolio in Azusa sold for $33.6 mil, or $290k/unit. All of the properties are located in a prime and fast-growing area close to downtown Asuza and Asuza Pacific University.
Each comp...
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• Multifamily Community in Surprise, AZ Sells for $85 Mil
8/23/22
Villas at Mountain Vista Ranch, a 256-unit, value-add multifamily community in the Phoenix suburb of Surprise, was sold in a deal worth $85 mil, or $332k/unit.
Built in 2003, Villas at Mountain Vista Ranch is a garden-style...
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• Avanath Capital Management Closes $220 Mil L.A. Apartment Buy
8/22/22
Irvine-based Avanath Capital Management closed on a large L.A.-area multifamily acquisition, paying $220 mil for the Baldwin Village apartments, commonly known as Santa Rosalia and Santo Tomas. At 669 units, we’re told that t...
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• Interstate Equities Corporation Buys 164-Unit Multifamily Property in Oxnard
8/22/22
Interstate Equities Corporation has purchased The Vines at Riverpark, a 164-unit, two-story, attached townhome community in Oxnard. Located at 3040 North Oxnard Blvd, the property is part of Riverpark, a new, 700-acre, master...
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• Rockworth Companies and the Gasser Family to Start Construction on 336-Unit Multifamily Project in Meridien, ID
8/19/22
Construction of Village Apartments, a Class A, 336-unit apartment development in Meridien, ID, is expected to begin in the coming months with completion anticipated for fall 2024. The project, a development of a joint venture...
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• Portland Res Community Lands $75 Mil Refi
8/17/22
Heirloom, a 286-unit, Class A garden-style multifamily community located at 7900 SE Luther Rd in Portland, has been refinanced with a new senior loan provided by PCCP LLC for $75.5 mil. Developed by NBP Capital, the newly del...
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• Greystar Completes Trio of Housing Projects in Seattle
8/16/22
Greystar has completed three urban rental residences totaling 838 units centrally located in the city of Seattle. The projects first began construction between 2019 and 2020, striving to ease the local market’s housing demand...
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• Silver Star Real Estate Buys 304 Res Units in the Inland Empire
8/16/22
Silver Star Real Estate, a privately owned real estate company based in La Palma, has acquired Metro 3610, a 304-unit, value-add multifamily community in Riverside. Built in 1984, Metro 3610 sits on 15.2 acres at 3610 Banbury...
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• Langdon Park Capital Spends $48.6 Mil on San Gabriel Valley Multifamily Community
8/15/22
Atrium at West Covina, a 138-unit multifamily community in the central San Gabriel Valley, was purchased by Langdon Park Capital in a $48.6 mil ($352k/unit) transaction. This buy represents Langdon Park’s third Los Angeles ac...
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• Development Site in the Denver Tech Center Submarket Goes for $23 Mil
8/15/22
A 6.31-acre site in the heart of the Denver Tech Center submarket traded hands for $23 mil. The land, which was sold by a joint venture between EverWest and Independencia Asset Management, will be used for the planned develop...
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• MG Properties Group Buys Two Sacramento Multifamily Properties
8/15/22
MG Properties Group is further expanding its Sacramento presence with the acquisition of Eleanor and H16 Midtown Apartments, two multifamily communities totaling 190 units. The price was not given out.
The two newly combined...
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