| San Luis Obispo City Council Approves 131-Acre Mixed-Use Development to Include Homes, Office Space, a Hotel & More
Presidio Residential Capital and Coastal Community Builders expect to break ground on San Luis Ranch in the first quarter of 2019
Presidio Residential Capital and Coastal Community Builders have received approval from the Sa...
| Afton Properties Buys Two Multifamily Properties Totaling 876 Units
Meridian Capital Group has arranged $122 mil for the acquisition of two multifamily properties in the Inland Empire, on behalf of Afton Properties. The transactions include $41 mil in acquisition financing for Alvista Canyons...
| TruAmerica Spends $67 Mil on 472 Res Units in Tempe, AZ
TruAmerica Multifamily, in joint venture with an institutional capital partner, has acquired a two-property, 472-unit apartment portfolio in Tempe, AZ for $67.3 mil ($142.5k/unit). With these most recent purchases, TruAmerica...
| Investors Trade Apartment Property in LA’s Palms Neighborhood for $288k/Unit
The Regent Apartments, a 33-unit apartment property in the Palms neighborhood of Los Angeles, traded for $9.5 mil, or $288k/unit, after the listing attracted over a dozen offers. The property features a unit mix of 12 studios...
| Senior Apartment Community in Ontario Sells for $142k/Unit
Villa Plaza, a 66-unit senior apartment community in Ontario, sold for $9.36 mil ($141.8k/unit). Built in 1970, Villa Plaza is located at 1155 W 4th St, south of I-10 and just west of Mountain Ave.
Villa Plaza is a two-story...
| East Bay Multifamily Community Goes for $44 Mil
The Mark, a 150-unit apartment property in the East Bay city of Hayward, has sold for $44 mil ($293k/unit). The buyer was New Standard Equities.
The garden-style complex is located at 24650 Amador St, east of I-880 and north...
| Student Housing Project in Downtown Berkeley Gets $26 Mil in Development Money
The Austin Group has obtained $26.25 mil in development money for The Den, a 160-bed student housing development located in the heart of Downtown Berkeley, at Telegraph Ave and Channing Way. The site, requiring demolition of...
| Santa Ana Site Ground-Leased for Affordable Housing Development
In news of a large affordable housing transaction out of Orange County, a venture consisting of Alexis Gevorgian of AMG & Associates LLC, The Pacific Companies and Jamboree Housing, agreed to a 99-year ground lease for a 6.84...
| Investors Pay $5.5 Mil for Mixed-Use Property in Oceanside
A retail/residential mixed-use property in Oceanside sold for $5.475 mil. The asset is located at 502-508 Sportfisher Drive and 510 N Coast Hwy, about midway between I-5 and the ocean.
The property consists of 16 residential...
| MidOcean Partners Acquires Meyers Research from Kennedy Wilson
MidOcean Partners, middle market private equity firm focused on the business services and consumer sectors, acquired Meyers Research LLC, a leading provider of data for the real estate industry. The Irvine-based firm was sold...
| Out of State Investor Pays $32 Mil for Chandler, AZ Res Community
River Ranch, a 188-unit multifamily community in Chandler, AZ, traded hands in a recent, $32 mil ($170.2k/unit) deal. Located at 6152 W. Oakland St, the asset was acquired by Greystar GP II LLC, an entity formed by Greystar o...
| Bay Area Multifamily Portfolio Trades in $41 Mil Deal
A four-property, 201-unit multi-housing portfolio in the Sonoma County city of Rohnert Park was acquired by a private investor for $41.05 mil ($204k/unit). The properties were sold by a Colorado-based private investment entit...
| San Francisco’s California Pacific Medical Center Campus to be Redeveloped into a Single-Family and Multifamily Residential Campus
TMG Parters and Grosvenor Americas have teamed up to redevelop the California Pacific Medical Center (CPMC) Presidio Heights campus in San Franciso. The redevelopment will transform the CPMC campus from a large-scale hospital...
| Kennedy Wilson Closes $49 Mil Res Buy in Utah
Kennedy Wilson has acquired Alpine Meadows, a 222-unit wholly owned apartment community in the Salt Lake City region, for $49 mil, or $220.7k/unit.
Kennedy Wilson invested $20 mil of equity in Alpine Meadows, while also obt...
| La Jolla Apartment Comp Comes in at $550k/Unit
In a recent apartment sales comp in La Jolla, a private investor paid $4.4 mil ($550k/unit) for an eight-unit, garden-style community. The property is located at 326-340 Palomar Ave, just west of La Jolla Blvd.
| Tower 16 Capital Partners and Henley USA Team Up in $29.5 Mil Vegas Multifamily Buy
San Diego-based Tower 16 Capital Partners, in a joint venture with Henley USA, has acquired Evergreen Apartments, a 314-unit, multifamily project two miles west of the Las Vegas Strip, for $29.5 mil ($94k/unit). Tower 16 wil...
| Universe Holdings Secures $27.65 Mil in Cash-Out Refi Loans on Three L.A. Apartment Assets
Taking advantage of the rising property values in its approximate 2,500-unit apartment portfolio, Universe Holdings has received $27.65 mil in cash-out refinance loans secured by three of its Los Angeles apartment communities...
| New Res Project in L.A.’s Melrose Area Opens
A new, 63-unit mixed-use development in Los Angeles has opened to the public. The project, nVe at Fairfax, was developed by Micropolitan and designed by KFA.
nVe at Fairfax is located at 639 N. Fairfax Ave, just off Melrose ...
| Pleasanton Multifamily Property Acquired for $24 Mil by Private Investor
Vista Del Sol, a 73-unit multifamily asset in downtown Pleasanton, was acquired by a local, private investor for $24.25 mil, or $332k/unit. The property sits on 3.37 acres at 2451-2529 Santa Rita Rd.
The community is locat...
| Legacy Partners and American International Group to Build 97-Unit Res Project in Hayward
A joint venture between Legacy Partners and American International Group Inc has acquired a 1.78-acre development site located at 28168 Mission Blvd in Hayward. The partnership will use the East Bay site for the development o...