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Sherman Oaks Apartment Building Trades for $9.4 Mil 9/28/10 In a notable recent apartment comp from the San Fernando Valley, a private partnership paid $9.4 mil for Sonoma Gardens, a 74-unit ($127k/unit) building in Sherman Oaks. The property is located at 14355 Huston St, north of th...
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Mountain Real Estate Capital and Davidson Communities Acquire San Diego Housing Project from B of A 9/27/10 Mountain Real Estate Capital (MREC) and Davidson Communities have teamed up in a joint venture purchase of The Sentinels at Del Sur subdivision in San Diego. The project, which consists of 17 substantially finished lots and f...
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Bascom Closes on 312-Unit Atlanta Acquisition 9/24/10 The Bascom Group, the OC-based multifamily investment/management firm, closed on a large out-of-state buy, paying $10 mil for The Parc at Dunwoody Apartments, a 312-unit ($32k/unit) Class B complex in the Sandy Springs area o...
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GSP Arranges $22 Mil in Perm/Construction Money on San Diego Res Project 9/22/10 George Smith Partners has arranged a $22.4 mil permanent construction loan on Marquis One, the first phase of Oakwood Development’s Marquis Apartment Community in San Diego’s Otay Ranch master-planned community.
The new loan...
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La Jolla Multifamily Community Sells for $68 Mil 9/20/10 Trieste Apartment Villas, a 302-unit multifamily complex in the upscale San Diego-area community of La Jolla, sold for $68.2 mil, or around $226k/unit. Located at 3950 Mahaila Ave, the property was purchased by Orange County-...
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San Diego Townhome Community Becomes a California Landmark 9/17/10 California Landmark Group (CLG) has purchased Serenata, a new, 45-unit townhome community in San Diego, for $10.15 mil ($225.5k/unit). Located at 6410 College Grove Dr, north of the 94 Fwy by Chollas Lake Park, the complex wa...
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Napa Apartment Community Fetches $91k/Unit 9/16/10 Here’s the scoop on a sizable Napa multifamily buy, as a San Francisco-based private investor paid $14.8 mil for Napa Garden Apartments, a 162-unit ($91.4k/unit) complex located at 2513 Laurel St, on the west side of Hwy 29 b...
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Lucent Capital to Handle Distressed Asset Sale in Mexico 9/15/10 Lucent Capital Inc has been retained by a leading Mexican bank to oversee a large distressed residential asset sale in Mexico. The portfolio includes approximately 2,000 entry level single-family homes located throughout Mexi...
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AMCAL a Finalist for Best Reuse of Land Award 9/14/10 AMCAL Multi-Housing Inc has been named a finalist for the Best Reuse of Land award for Los Vientos by Multifamily Executive. The annual Multifamily Executive awards honor the best in multifamily real estate across the United...
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CBRE Arranges $35 Mil on Upscale AZ Apartment Community 9/13/10 CB Richard Ellis has arranged $35.2 mil in financing for San Cervantes Apartments, a 376-unit garden-style apartment community in Chandler, AZ. Located at 400 North Coronado St, near the 1 msf Chandler Fashion Center, San Ce...
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Investors See Value in OC Apartment Buys 9/10/10 In recent Orange County multifamily investment buys, two properties traded hands in separate deals totaling over $5 mil. In one of the transactions, a Newport Beach-based private investor acquired a three-building, nine-unit ...
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BRE Collects $24.6 Mil from Inland Empire Apt Sale 9/09/10 By Allen Wolfsheimer
For BRE, proceeds of this sale helped the company move forward with a new SoCal acquisition of its own, paying $166 mil for Aqua Marina del Rey, a 500-unit community in the upscale, West Los Angeles area...
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WA Apartment Complex Sells for Almost $6 Mil 9/09/10 Springfield Apartments, a 64 unit complex located at 18414 108th Ave SE in Renton, WA, just sold for $5.89 mil, or about $92k/unit. Built in 1984, Springfield has 32 one-bedroom and 32 two-bedroom units and is situated near t...
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SRO Housing Trust Acquires Historic LA Hotel 9/08/10 The Rosslyn Hotel, a historic 264-room residential hotel in downtown Los Angeles, recently sold for $12.1 mil ($46k/room). The property, located at 112 W. 5th St, was purchased by SRO Housing Trust. It was sold by JHK Group L...
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Commercial Financing Briefs 9/07/10 GEORGE SMITH PARTNERS – George Smith Partners (GSP) arranged $42.6 mil in refi money on two Canyon Country multifamily properties with a combined 471 units. The transaction consisted of $23.2 mil on a 215-unit complex and $19...
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LA Apartment Community Fetches $3 Mil in Lender Short Sale 9/07/10 A72-unit apartment community consisting of two properties in Los Angeles was sold for $3 mil in a lender short sale. The properties, 5th & Maryland Apartments, are located at 1329 West 5th
St & 1326 Maryland St, north of Wils...
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400-Unit Oxnard Apartment Complex Trades Hands in $81 Mil Deal 9/03/10 In a large SoCal multifamily acquisition, a venture made up Kennedy Wilson, RECP/Urban Partners and Capri Capital Partners LLC, on behalf of Capri Urban Investors LLC, purchased Serenade, a 400-unit apartment community in Oxn...
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CA Home Sales Down While Median Price Up 10% from Prior Year 9/02/10 According to the latest data from the California Association of Realtors® (C.A.R.), California home sales decreased 20.8 percent in July compared with the same period a year ago, while the median price of an existing home ros...
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OC-Based Bascom Closes 360-Unit San Antonio Buy 9/01/10 The Bascom Group LLC has acquired The Retreat at Canyon Springs Apartments, a 360-unit luxury Class A property in San Antonio, TX. Constructed in 2001, the apartment community is located in the city’s exclusive Stone Oak subd...
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gallery421 Officially Open for Viewing 8/30/10 Long Beach's newest luxury apartment community, gallery421, officially opened to the public last Friday, August 26, 2010. Developed by Lyon Communities, gallery421 is a stylish 291-home community offering five-star amenities ...
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