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September 17, 2019
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MULTIFAMILY NEWS
Archive
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• New York Firm Pays $17 Mil for Summer View in Sherman Oaks
5/08/03
A San Fernando Valley apartment property just sold for $17 mil, as The Praedium Group LLC, out of New York, purchased the Summer View Apartments, a 169-unit ($100k/unit) property ay 15353 Weddington St in Sherman Oaks. The co...
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• May 5, 2003 - San Diego Apartment Investors Head to the Ballpark
5/05/03
Investors recently made a couple of $9 mil apartment buys in San Diego County, one in Chula Vista and the other in San Diego's downtown. In the downtown deal, Richard Jones and Lavonda Lee Jones, as trustees of a trust, paid...
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• Financing Notes
5/02/03
ARCS, the big Calabasas-based multifamily lender just let us know about a number of smaller financings they've wrapped up on apartment properties throughout the state. For those of you who like to keep up with the numbers fro...
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• CA Apartment Sales Review
5/01/03
HIGHLAND (San Bernardino County) Reza Ghaffari of Marcus & Millichap represented the buyer and the seller in the $1.95 mil ($44.3k/unit) purchase of the Sterling Villa Apartments, a 44-unit complex at 7832-7838 Sterling Ave...
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• Multifamily Briefs
4/29/03
PACIFIC BEACH (San Diego County) Crown Point Properties paid $2.22 mil for the 12-unit ($185k/unit) Crown Point Court Apartments, located at 2049-2061 Oliver Ave, a couple of blocks east of Lamont St. The 43-year-old two-st...
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• Great Lakes to Set Sail on Historic Hillview Apartment Project in Hollywood
4/28/03
Proclaiming that glitz and glamour have returned to Hollywood this week, the developers of the historic Hillview Apartment building, once the premiere residence for film stars, hosted a ground-breaking ceremony this past Thur...
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• 141-Unit Reseda Apartment Property Sells for $10.5 Mil
4/24/03
Here's another meat and potatoes SoCal apartment deal, as a private investor paid $10.53 mil for the Villa La Paloma Apartments, a 141-unit ($74.7k/unit) complex at 7722 Reseda Blvd, between Saticoy and Strathern Streets in t...
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• Apartment Investor Pays $5 Mil for Place in the Sun
4/23/03
Tramontana Group paid $4.95 mil for Villa Del Sol, a 56-unit ($88.4k/unit) complex located at 3225 Long Beach Blvd, just south of the 405 Fwy between Wardlow Rd and Spring St in Long Beach. Built in 1988, the Villa Del Sol c...
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• Archstone-Smith Dives into Santa Monica Beach Apartment Market
4/22/03
Archstone-Smith, the Colrado-based apartment REIT, closed a $57.5 mil acquisition of an apartment portfolio consisting of three complexes in the Westside city of Santa Monica. Located at 425 Broadway, 1455 4th St and 1915 Oc...
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• UTC Seniors Complex Sells for $58 Mil
4/18/03
University City Village, a 542-unit seniors apartment complex near the University Towne Centre area in San Diego County, traded hands for $58.4 mil, or about $107.7k/unit. The buyer was an unnamed San Diego-based family trust...
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• Phoenix Realty to Oversee Genesis Workforce Housing Fund in L.A.
4/15/03
The critical need for moderate-income workforce housing in urban infill areas of Southern California is about to be given some serious attention, with the formation of a Los Angeles office of New York City-based Phoenix Realt...
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• Multifamily Briefs
4/14/03
OAKLAND (Alameda County) - The Related Cos of Irvine and the East Bay Asian Local Development Corp, a local nonprofit, bought the Noble Tower Apartments in Oakland's Lake Merritt area for just over $19 mil. The 195-unit ($97....
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• Judge Upholds Ruling Against Casden
4/11/03
The LA Times main real estate reporter now, Roger Vincent, reported this past Saturday that federal U.S. District Judge Dean Pregerson last Thursday upheld the jury verdict against Alan Casden and others in favor of former in...
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• CB Duo Brokers $2.6 Mil 1031 Exchange Acquisition in Anaheim
4/08/03
A Newport Beach private investor paid $2.6 mil for a 24 unit ($108.3k/unit) Anaheim apartment complex at 203 South Ohio St, south of Lincoln Ave and east of I-5, as part of a 1031 tax-deferred exchange. The 15-year-old proper...
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• Financing Notes
4/07/03
Newport Beach-based Buchanan Street Partners has provided both equity capital and debt financing for the acquisition of Baywood Apartments, a 128-unit apartment complex in Antioch that was just purchased by a Bay Area investo...
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• Stowe Passco Stows Away $10 Mil from Development Site Sales
4/04/03
Stowe-Passco Development has completed the sales of additional residential development sites, in three deals with a combined value of about $10 mil. One of the transactions was for a 229-lot residential subdivision located we...
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• Clarion Clarifies the National Apartment Market in Recent Study
4/03/03
Here's a quick summary of the latest study on the national apartment market, provided by Clarion Partners, in which they predict a rebound in both occupancy levels and rents. Keep in mind, this study is an overview of the ent...
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• Revere Rides into Whittier Apartment Complex
4/02/03
A private partnership managed by Cerritos-based Revere Investments LLC paid $3.5 mil for a modern, 36-unit ($97.2k/unit) apartment complex at 10350 Santa Gertrudes Ave, south of Whittier Blvd, in an off-market transaction. Th...
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• San Diego Remains Near Top of National Study on Apartment Industry
4/02/03
For those of you who like to keep up on the latest research studies about the apartment industry, Marcus & Millichap Real Estate Investment Brokerage Company recently released its National Apartment Index (NAI), which ranks S...
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• CA Apartment Sales Hat Trick
4/01/03
SHERMAN OAKS (Los Angeles County) - Praedium Group, a NY-based investment firm, closed on a San Fernando Valley apartment complex after paying $17 mil for the Summer View Apartments, a 170-unit ($100k/unit) property at 15353 ...
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