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Investor Pays $220k/Unit for LA Westside Apartment Property Near The Grove 6/23/11 An eight-unit, 8.2k sf multifamily property located at 8233 Blackburn Ave recently sold for $1.765 mil, or about $221k/unit. The property is located north of Wilshire Blvd, between Fairfax Ave and La Cienega Blvd. The two-sto...
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HFF Arranges $11 Mil on Nevada Multifamily Property 6/22/11 HFF has secured $10.92 mil in financing for The Waterford, a 240-unit multi-housing community in Sparks, Nevada. The complex is owned by a venture made up of Silverwing Development, AJU Investments and the Strand Group of Com...
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GH Palmer Gets $92 Mil Refi On 566-Unit Orsini II in Downtown LA 6/21/11 George Smith Partners has arranged $92 million in new debt and preferred equity to refinance the maturing construction loan on Orsini II Apartments, the 566-unit apartment complex located in downtown, LA. The owner of the pro...
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Camelback Corridor Apartment Complex Commands $5.3 Mil 6/21/11 Highland Gardens, a 161-unit apartment complex at 4728 N. 15 th St. in Phoenix, AZ, has traded for $5.3 million ($32,919 per unit). The buyer is Highland Equity Partners LLC, a company formed by ARC Southwest Inc. in Tempe, H...
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Mountain Real Estate Capital and Davidson Communities Purchase San Diego Res Project 6/21/11 A joint venture of Mountain Real Estate Capital (MREC) and Davidson Communities LLC has acquired The Vintage at The Crosby development in San Diego. This represents the third acquisition made by the MREC/Davidson partnership ...
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Rare Sylmar Apartment Sale Valued at Just Over $9 Mil 6/20/11 Foothill Glen, an 81-unit apartment property in the northeastern San Fernando Valley community of Sylmar, sold for $9.1 mil, or $112.3k/unit. We’re told by Marcus & Millichap that this is a rare transaction for the area, as o...
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Silicon Valley Multifamily Sales Comps 6/20/11 SOUTH PALO ALTO (Santa Clara County) -- A private investor paid $3.4 mil for a 17-unit ($200.3k/unit) apartment complex located at 241 Curtner Ave, just south of Page Mill Rd between Alma St and El Camino Real. There are six ...
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Multifamily News Briefs 6/17/11 EL CAJON (SAN DIEGO COUNTY) - Lexington Gardens Apartments, an 41-unit apartment building, at 1371 E. Lexington Avenue in El Cajon has been purchased for $4,100,000, or $100,000 per unit. The seller, Mar Group (Lexington Ave....
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Bascom Basking With 840-unit Denver, CO Buy 6/16/11 The Bascom Group, LLC in partnership with the Carlyle Group has acquired an 840-unit apartment portfolio in the Denver Metro region. The portfolio consists of Fairways at Lowry, a 450-unit community in Aurora, CO acquired for...
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Walker & Dunlop Grows Irvine Office 6/16/11 Walker & Dunlop is expanding its Irvine office by bringing on Charles R. (Chuck) Christensen as senior vice president, of Multifamily Finance. Mr. Christensen will help establish Walker & Dunlop’s Irvine, California office an...
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GSP Arranges $17 Mil on Two Multifamily Properties 6/16/11 George Smith Partners (GSP) arranged $17 mil in financing for two multifamily properties, located in California and South Carolina. In the CA transaction, GSP’s Gary Mozer, Principal and Managing Director, arranged $10.2 mil ...
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Investors Spend $5.8 Mil on San Diego Fractured Condo Project 6/15/11 In a recent San Diego-area residential sale, Playa Blanca Condominiums in the city’s South Bay area sold for $5.85 mil. The transaction consists of 35.1k sf of space, including 44 of the 161 total condominium units in the com...
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Multifamily Sales Review 6/14/11 NEWHALL (Los Angeles County) -- A private investor paid $4.34 mil for The Californian, a 40 unit apartment property. The buyer was represented by Gregory Harris and Jeff Benson, investment specialists in Marcus & Millichap’s ...
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Wood Wedges into Wedgwood 6/13/11 Wood Partners just broke ground on a 91-unit apartment community in Wedgwood, a residential neighborhood of northeast Seattle. The as-yet-unnamed project, located at 8606 35th Ave NW, is the first development in the Seattle a...
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Washington Fractured Condo Project Sells for $3.7 Mil 6/10/11 A California-based investment firm has purchased Patagonia Village Apartments, a 42-unit project in Woodinville, WA. The asset was acquired from Washington Square Condos LLC for $3.7 mil ($88k/unit).
Located at 14110 NE 179...
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$60 Mil Downtown Los Angeles Res Project Breaks Ground 6/09/11 The Holland Partner Group has broken ground on a new seven-story, $60 mil residential development at 1111 Wilshire Blvd in Downtown L.A’s City West area. Located just west of the 110 Fwy, the project is the third in a series ...
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Local Investment Firm Purchases 60-Unit Culver City Multifamily Property 6/08/11 The Keswick Court Apartments, a 60-unit multifamily property located on 1.63 acres at 3902-3920 Lenawee Ave, south of Rodeo Rd and just west of La Cienega Blvd in Culver City, was acquired by a Los Angeles-based investment fi...
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Vacaville Multifamily Property Sells for $88k/Unit 6/07/11 A Green Leaf Partners entity paid $5.55 mil for Meadowood Apartments, a 64-unit ($88k/unit) multifamily community located in Vacaville. The property was sold by Walnut Creek-based Bridge Partners.
Originally constructed in 1...
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WA Investor Spends $76 Mil on 724-Unit Phoenix Apt Property 6/07/11 Trillium Pinnacle Peak, a 724-unit multifamily complex in Phoenix, traded hands in a recent transaction valued at $76 mil ($105k/unit). Built in 2008, the property is located at 24250 North 23rd Ave, east of I-17 and south of...
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Johnson Capital’s Neal Churney Arranges $8.4 Mil on Five AZ Properties 6/06/11 Neal Churney, CCIM, a Senior Vice President in Johnson Capital’s Phoenix office, has arranged five different loans worth $8.4 mil on properties throughout Arizona. The individual properties and the note amounts are as follows...
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