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Regionwide Rundown of Multifamily Deals 10/28/10 For those in need of more news of closed multifamily sales, here’s information on five closed transactions from a few weeks ago, which we haven’t reported about yet, covering properties from Burlingame to Glendale AZ.
Starti...
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LA Area Apartment Comps 10/27/10 We’ve got a trio of recent LA-area multifamily sales to share, starting with a sizable deal in the southern San Fernando Valley community of Sherman Oaks, where a 74-unit property fetched $9.4 mil ($127k/unit). The property i...
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Raintree Grows Two More Branches 10/26/10 Raintree Partners, a Laguna Niguel, CA-based real estate investment and development company, has acquired a two-property portfolio of San Diego County multifamily properties from a private individual for $65 mil. With these t...
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Sack Properties Entity Acquires 32-Unit Marin County Multifamily Asset 10/25/10 Marin Gardens, a 32-unit multifamily community in the southern Marin County city of Corte Madera, was acquired for $6.6 mil ($206k/unit), just 35 days after marketing began, by an entity controlled by Sack Properties of San F...
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Commercial Real Estate Financing Briefs 10/25/10 In recent financing news, KeyBank Real Estate Capital provided $39.4 mil in Fannie Mae funding to Golden West Properties. The funds represent the refinancing of a construction loan, also provided by KeyBank Real Estate Capita...
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San Diego Corp HQ Building Sells for $5.4 Mil 10/25/10 Cal Sorrento LTD paid $5.4 mil for a 39.9k sf ($135/sf) high-image corporate headquarters/flex/office building in San Diego’s Carmel Mountain Ranch area. Located at 15150 Avenue of Science, east of I-15 and south of Camino De...
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752 Unit Multifam Gets $112 Mil In Refinancing Through George Smith Partners 10/21/10 Commercial real estate investment banking firm George Smith Partners recently arranged a $112 mil refinancing of the Colony Townhomes, a 752 unit multifamily complex in Santa Clarita, CA. Gary M. Tenzer, principal and managin...
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Newmark Nabs $4 Mil For Nob Hill Apartment Building 10/20/10 Newmark Realty Capital, Inc. arranged financing in the amount of $4,000,000 for a 53-unit, seven-story Art Deco apartment building located at 640 Mason Street, in the Nob Hill neighborhood of San Francisco. Built in 1932, the...
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Equity Residential Purchases Berkeley Mixed-Use Property 10/19/10 Equity Residential has acquired Renaissance Villas, a mixed-use property containing 34 apartments and 2.2k sf of retail space in Berkeley. The property was sold by a private partnership for $7 mil.
Originally constructed in...
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Kennedy Wilson Picks Up Residential Subdivision in Hawaii 10/15/10 Kennedy Wilson has acquired Wai’nani at Kiahuna, a residential subdivision in the established resort area of Poipu Beach on the island of Kauai in Hawaii. The property consists of 63 finished lots and six completed single fam...
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San Diego Housing Commission Buys Courtyard Condos Mixed-Use Project 10/12/10 San Diego Housing Commission purchased Courtyard Condos, a 54k sf mixed-use project in San Diego’s mid-city area, for $7.2 mil. Located at 4395 El Cajon Blvd. east of I-15, Courtyard Condos contains 37 residential units over ...
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Santa Barbara-Area Assisted Living Facility Obtains $6.8 Mil in New Financing 10/11/10 CB Richard Ellis Group (CBRE), through its direct HUD FHA lender, CBRE HMF Inc (CBRE HMF), arranged financing of $6.78 mil for the Heritage House Community, a 68-bed/56-unit assisted living and memory care facility nestled in...
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Investors Pick Up Sacramento-Area Multifamily Assets 10/08/10 We’ve got a couple of recent apartment sales comps from the Sacramento area to share with you. In one deal, the 39-unit Almondwood property in Winters sold for $2.55 mil ($65.4k/unit). The property is located at 801 Dutton St...
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Receivership Puts Glendale Multifamily Property on the Market 10/07/10 A 115-unit multifamily condominium in Glendale was just put on the market by a receivership estate. The property, 416 on Broadway, was originally built as an upscale condo project with retail, but is currently a rental comple...
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2010 CA Home Sales Down from Last Year but Predicted to Pick Up in 2011 10/06/10 A weaker-than-expected economic recovery will result in a projected decline in California home sales for 2010, although home sales are expected to edge up slightly in 2011, according to the California Association of Realtors®...
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Kennedy Wilson/Lefrak Organization Partnership Refis Three-Property Apt Portfolio 10/05/10 The recently formed joint venture between Kennedy Wilson and LeFrak Organization has not wasted a lot of time before getting to work. The partnership just refinanced a three-property multifamily portfolio in CA and OR with ne...
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Citi, Highridge Partners and Michael Costa Team Up in Affordable Housing Venture 10/04/10 Citi, Highridge Partners, a privately held, real estate investment company, and Michael Costa, a leader in the Low Income Housing Tax Credit (LIHTC) industry, have agreed to form a new company operating as Highridge Costa Hou...
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Anaheim Multifamily Complex Sells for Over $21 Mil 10/01/10 In a large OC multifamily buy, Lake Forest-based Advanced Real Estate Services purchased the 149-unit Pacific Palms Apartments in Anaheim for $21.19 mil ($142.2k/unit). The 48-year-old community was sold by UDR, the Colorado-...
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Cornerstone Obtains $109 Mil in Refi Money on Two Multifamily Properties 9/29/10 Cornerstone Real Estate Advisers has obtained refinancing of $109 mil on two Class A multifamily properties, one in the LAX area of Los Angeles, while the other is in Stamford, CT. Dana Brome and Carlos Febres-Mazzei out of ...
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Casa Dominguez First Ever LEED for Homes Platinum Certified Multifamily Project in LA County 9/29/10 Casa Dominguez, a 70-unit affordable housing complex in East Rancho Dominguez, is the first-ever LEED for Homes Platinum certified multifamily development in Los Angeles County and the second within the State of California. T...
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