| Investor Pays $163k/Unit for Riverside Multifamily Property
An Inland Empire-based private investor has purchased Las Casitas Apartments, a 71-unit multifamily community in Riverside, for $11.55 mil ($163k/unit). The property is located at 4982 Jurupa Ave, at the corner with Correll S...
| San Diego Apartment Building Goes for $319k/Unit
In a recent multifamily sales comp from San Diego, a nine-unit, garden-style apartment property sold for $2.875 mil, or $319.4k/unit. Originally built in 1975, the property totals 6k sf and was 100% occupied at closing.
| Passco Companies Acquires 330-Unit TX Multifamily Asset
Passco Companies has acquired The Grayson, a 330-unit, Class A apartment community in the northern Houston submarket of Spring, TX. The price was not given out.
Constructed in 2016, The Grayson is located at 4115 Louetta Rd....
| Two West Hollywood Apartment Buildings Trade in Deals Near $400/Unit
We’ve got two multifamily comps from West Hollywood to share with you. The properties total 34 units and sold for a combined price of about $13.6 mil.
In one of the deals, an 18-unit asset at 8450 De Longpre Ave sold for $7....
| Sacramento Multifamily Property Trades for $100k/Unit
A 40-unit apartment complex in Sacramento sold for $4 mil, or $100k/unit. The 32k sf property consists of 10 buildings located at 6304 Lemon Hill Ave.
Built in 1965, the garden-style apartment community boasts a unit mix of ...
| Newport Beach Investor Exchanges into Two OC Multifamily Properties Totaling $14 Mil
A private 1031-exchange investor from Newport Beach acquired two OC multifamily properties for a total of $14 mil. The assets, totaling 44 units, are in Anaheim and Costa Mesa. CBRE’s Dan Blackwell represented the buyer in bo...
| Commercial Real Estate Financing Briefs
MARCUS & MILLICHAP CAPITAL CORP – Sharone Sabar with Marcus & Millichap Capital Corp has arranged $50.5 mil in capital to refinance two SoCal multifamily properties. The first transaction, in the amount of $27.5 mil, refinanc...
| Reliant Group Closes $116 Mil NoCal Res Portfolio Buy
San Francisco-based Reliant Group Management purchased a portfolio of seven apartment communities, located in the cities of Napa, Vallejo, Hercules, Antioch, Dublin and Hayward, for $116 mil. The portfolio contains 603 apartm...
| Chicago-Based Investment Entity Spends $26 Mil on AZ Apartment Community
Tatum Investment Partners LLC, an entity formed by Chicago-based Rockwell Partners, paid $26.15 mil for Tatum Place, a 164-unit ($159.5k/unit), Class B apartment community in Scottsdale, AZ. The property is centrally located ...
| Affordable Housing Project Breaks Ground in Redwood City
An affordable residential rental development, 2821 ECR Apartments, has just broken ground. The project is being developed by Palo Alto Housing (PAH) in the North Fair Oaks neighborhood of San Mateo County.
Plans call for 67...
| Apartment Property in Bellflower Sells for $231k/Unit
Bellflower Boulevard Apartment Homes, a 26-unit multifamily community in Downey, was acquired by a private investor for $6 mil, or $231k/unit.
Located at 11638 Bellflower Boulevard, the property consists of 17 one-bedroom a...
| Oakdale Communities Secures $83 Mil for Sacramento Res Development
Oakdale Communities has secured $83 mil in financing for the development of The Core Natomas, a 300-unit, luxury apartment project in Sacramento. The loan was arranged by CBRE Capital Markets’ Debt & Structured Finance.
| Apartment Building in West Hollywood Sells for $488k/Unit
A four-unit apartment building in West Hollywood has sold for $1.95 mil ($487.5k/Unit), or $561/sf. The property, located at 8904 Rangely Ave, was acquired by Rangely Partners LLC, a Los Angeles area real estate investor.
| Senior Housing Development Planned for Los Angeles’ Koreatown Neighborhood
Meta Housing Corporation and Western Community Housing have formed a joint venture to develop Vermont Corridor Apartments, a six-story, transit-oriented senior and permanent supportive housing multifamily community in Los Ang...
| San Jose Multifamily Property Trades for $350k/Unit
Delano Apartments, a fully upgraded 35-unit multifamily community in San Jose, sold for $10 mil, or $350k/unit. Located at 272-280 La Pala Dr, the property is in close proximity to major employers, transportation corridors, s...
| Low-Income Senior Housing Project in Lancaster Sells for $8.65 Mil
Aurora Village Apartments, a 132-unit, low-income senior housing project located in what is envisioned to become Lancaster’s Medical Main Street, has traded for $8.65 mil, or $65.5k/unit. The community sits on 3.4 acres at 4...
| Luxury Res Project Opens in L.A.’s Miracle Mile District
The Mansfield at Miracle Mile, a new mixed-use project in L.A.’S Miracle Mile area, has opened to the public. The project, located at 5100 Wilshire Blvd, a block away from the future Purple Line Station at Wilshire and La Bre...
| Work Started on 46-Story Luxury Res Tower in Downtown Houston
Hines, along with investment partner Cresset-Diversified QOZ Fund, has started construction on The Preston, a 373-unit, luxury apartment high-rise community in downtown Houston. The project, located on the site of the former ...
| Continental Realty Advisors Spends $14 Mil for 63-Unit Res Community Just Off the Vegas Strip
The Onyx, a 63-unit residential community just off the Strip in Las Vegas, was acquired by Continental Realty Advisors (CRA) in a $14 mil deal ($222k/unit). Occupancy at the property is high due to its proximity to the Strip ...
| Kearny Mesa Multifamily Dev Set to Move Forward with $145 Mil in Financing
Sunroad Enterprises has secured a $145 mil senior loan for the development of Sunroad Centrum Phase 6, a seven-story, 442-unit, Class A multifamily development in San Diego’s Kearny Mesa neighborhood. The project will be the ...