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• Newly Built AZ Res Community Refinanced with $53 Mil Loan
7/26/23
P.B. Bell has landed a $53 mil refi loan for Hangar at Thunderbird, a newly built 266-unit, 19-building apartment community in Glendale, AZ. The new financing was provided by PCCP LLC.
Hangar at Thunderbird is located at 153...
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• Rosemead Development Site Sells for Over $8 Mil
7/26/23
A local investor paid $8.15 mil for a 2.06-acre, mixed-use residential/commercial development site in Rosemead.
The property, located at 9637 Valley Blvd, consists of 12 contiguous parcels situated along Valley Blvd, with Lo...
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• KB Homes Acquires 13.5-Acre Parcel in the San Gabriel Valley
7/25/23
A 13.5-acre parcel of commercial land in the San Gabriel Valley city of El Monte traded for $24 mil. The buyer, Los Angeles-based KB Homes, a Fortune 500 national home builder, will use the property to construct up to 200 new...
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• Advanced Building Solutions Spends $19 Mil on 18-Acre Development Site in Rocklin
7/21/23
Advanced Building Solutions (ABS) has acquired an 18.2-acre residential development site in Rocklin in a $19 mil transaction. The land is fully entitled for a 397-unit, garden-style multifamily development, pricing the land b...
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• OC Apartment Trade Comps at $354k/Unit
7/19/23
In a recent OC apartment sales comp, a 12-unit multifamily property in Anaheim sold for $4.25 mil or $354k/unit. The property was purchased by a private investor in a 1031 exchange.
Located at 921-927 S. Trident St, the pro...
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• Starpoint Properties Set to Begin Work on 245-Unit Multifamily Project in Mesa, AZ
7/19/23
Starpoint Properties has obtained $52 mil in construction financing for Dobson Station, a 245-unit multi-housing development set to deliver in 2024 in Mesa, AZ. JLL’s Jeff Sause, Wyatt Strahan and Elle Miraglia arranged the f...
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• New Affordable Housing Project in L.A.’s Westlake North Area Lands $11.75 Mil in Permanent Financing
7/18/23
West Hollywood Community Housing Corporation has obtained $11.75 mil in forward permanent financing for Third Thyme, a 104-unit, affordable multi-housing community in Los Angeles. Third Thyme is situated on a 14.9k sf lot at ...
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• Trio of OC Apartment Trades Total Nearly $5.5 Mil
7/17/23
Here are a few recent apartment sales comps from Orange County as three four-unit properties were acquired by three separate private buyers in deals totaling $5.48 mil over a period of 10 days.
In one of the transactions, a ...
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• Second Phase of Altadena Senior Living Facility Gets Started
7/17/23
Construction has begun on the second and final phase of Episcopal Communities & Services’ MonteCedro senior living community in Altadena. Totaling approximately 101.9k sf, the additional construction to MonteCedro Senior Livi...
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• The Premiere Residential Closes $140 Mil AZ Res Buy
7/14/23
The Premiere Residential closed on its first Phoenix area acquisition in 16 years, paying $140 mil for Soltra at SanTan Village, a newly built, 380-unit ($368.4k/unit) community in Gilbert, AZ.
Located at 1690 South San Tan ...
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• Phoenix Multifamily Community Sells for $37 Mil
7/13/23
Clarendon Park, a 138-unit multifamily community in Phoenix, sold for $37 mil, or $268k/unit. The buyer was WhiteHaven, a Phoenix-based private equity firm.
Clarendon Park features a mix of one- and two-bedroom apartment hom...
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• Empire Group Secures $88.5 Mil for Development of 354-Unit BTR project in Phoenix
7/11/23
Tower Capital has arranged $88.5 mil in construction financing for a Build-to-Rent (BTR) community in the Phoenix market. The financing is for Village at Bronco Trail, a 354-unit project planned for development by Scottsdale-...
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• Eden Housing Buys Res Properties Totaling 116 Units in Concord
7/11/23
Eden Housing, a non-profit organization, purchased two multifamily communities totaling 116 units in Concord, CA for $37.25 mil. The company will convert the properties, Sunset Pines and Coral Court Apartments, from market-ra...
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• Sares Regis Entity Granted Approval for 56-Unit Res Development in Redwood City
7/11/23
Regis Homes Bay Area LLC, a division of Sares Regis Group of Northern California, was granted approval from the Redwood City, City Council for a new residential community featuring 56 townhomes at 505 East Bayshore Road in Re...
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• San Fernando Valley Apartment building Goes for $450k/Unit
7/10/23
In a recent apartment sales comp from the San Fernando Valley, an eight-unit property in Sherman Oaks sold for $3.6 mil, or $450k/unit. We’re told this deal marks a record-high price-per-unit for a rent-controlled apartment b...
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• BH Properties Introduces Affordable Housing Investment Initiative
7/07/23
BH Properties (“BH”) has launched a new investment initiative into affordable housing with a goal of ultimately building a $1 bil portfolio of assets. The new initiative will be led by veteran affordable housing executive Wi...
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• Windy Hill Property Ventures and Rockwood Capital Pick Up San Jose Res Asset in $83.5 Mil Deal
7/06/23
A joint venture of Windy Hill Property Ventures and Rockwood Capital has acquired Vespaio, a 162-unit Class A multifamily community located in a highly amenitized area in central San José, for $83.5 mil ($515k/unit).
Located...
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• 17-Unit OC Apartment Property Sells for $6 Mil
7/06/23
Orange County-based buyers paid $6 mil for a 17-unit ($353k/unit) multifamily property in Westminster, CA. The property was sold by an out-of-state private real estate investor.
Located at 13931-13951 Illinois St, the prope...
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• 330-Unit AZ Multifamily Community Trades Hands
7/05/23
The Aston Scottsdale, a 330-unit property in Scottsdale, AZ, was acquired by The Connor Group for an undisclosed amount. The luxury property, located at 8688 East Raintree Dr, was sold by Wood Partners.
Previously known as A...
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• Six Bay Area Multifamily Trades Total $19 Mil
7/05/23
Here’s a quick update on six multifamily transactions in the Bay Area that totaled more than $19 mil. The deals were brokered, at least in part, by Levin Johnston of Marcus and Millichap, who represented the sellers and sourc...
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