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March 29, 2024
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MULTIFAMILY NEWS
Archive
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• Kennedy Wilson to Auction Units in Seattle’s First Green Condo/Hotel Property
8/27/10
Kennedy Wilson Auction Group, a division of Beverly Hills-based Kennedy Wilson, will conduct an auction for 34 units at Olive 8, a 22-story tower located above the Hyatt hotel in downtown Seattle. The auction will take place ...
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•  Workforce Housing Project for San Mateo Community College District Opens
8/27/10
Canada Vista in Redwood City, a new housing development for professors and staff of the San Mateo County Community College District (Cañada College, College of San Mateo and Skyline College), recently opened its doors. Develo...
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• Investors Pick Up LA-Area Apartment Properties
8/26/10
A 32-unit apartment property at 415 Union Dr, just west of downtown Los Angeles, sold for $1.65 mil, or $52k/unit. The property, a few blocks west of the 110 Fwy between 3rd and 6th Streets, contains a total of 22.2k sf of re...
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• 600-Unit OC Apartment Buy Ranks as One of the Largest CA Multifamily Sales for 2010
8/25/10
By Allen Wolfsheimer In what ranks as one of the largest California multifamily apartment sales so far in 2010, AvalonBay Communities, the Washington, DC-based apartment REIT, has acquired Creekside Meadows, a 628-unit compl...
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• San Diego Mobile Home Park Fetches Over $38 Mil
8/24/10
In a big SoCal mobile home sale, Poway Royal Estates, a 399-space, 51-acre mobile home park in Poway, was purchased by Hometown America LLC for $38.3 mil, or about $96k/space. The property was constructed in 1972 and is locat...
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• AZ Court Allows Trigild to Sell Former Bethany Group Properties to Standard Portfolio
8/24/10
In a major legal case that opens the door for substantial boosts in commercial real estate loan recovery for lenders, the Arizona Superior Court has issued a ruling enabling San Diego-based receivership and loan recovery firm...
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• Mesa West Capital Provides $12.5 Mil for WA Apartment Complex
8/20/10
Mesa West Capital has provided $12.5 mil in first mortgage financing for the acquisition and lease-up of Chateau Woods, a recently constructed 114-unit multifamily property located at 18250 142nd Avenue NE in the Washington t...
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• The Tides Rolls into Jackson Square Properties’ Portfolio
8/19/10
The Tides Apartments, a 200-unit multifamily property in the west Contra Costa city of Richmond, recently traded hands in a NoCal investment buy. Built in 2004, The Tides contains 178.9k sf and is located at 3185 Garrity Way,...
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• Wood Partners to Move Forward With $90 Mil Res Project in Kearny Mesa
8/18/10
Wood Partners LLC has purchased a 5.9-acre fully permitted apartment site in San Diego’s Kearny Mesa area, where the company plans to develop a 379-unit luxury apartment community. The four-story podium project, in the Spectr...
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• George Smith Partners Arranges $32 Mil in Construction Funding on Hollywood Apt Development
8/17/10
George Smith Partners has arranged $32 mil in construction financing to complete a 180-unit multifamily project in Hollywood that the previous owner had been unable to complete. The five-, six- and seven-story development is ...
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• San Francisco Site Receives Re-Zone Approval for Res Development
8/16/10
Here’s a sign that the residential development market may be starting to perk up a bit, at least in more desirable, in-fill markets. In San Francisco’s Ocean View neighborhood, Birch Tree Properties LLC formally received appr...
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• CBRE Group Arranges $30 Mil for Two AZ Apartment Properties
8/13/10
CB Richard Ellis Group, through its direct HUD FHA lender, CBRE HMF, arranged financing of $29.85 mil for Avante Apartments, a 428-unit complex in Phoenix, AZ, and its 256-unit sister property, Pala Mesa Apartments, in Mesa, ...
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• San Mateo Seniors Apartment Community Sells for $19 Mil
8/12/10
FountainGlen at The Villa, a 135-unit mixed-use senior apartment and retail community in San Mateo, recently sold for $18.75 mil. Located at 4000 South El Camino Real, south of Hillsdale Blvd on the west side of the 101 Fwy, ...
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• AZ Apartment Community Trades for Over $11.5 Mil
8/11/10
A Newport Coast investor paid $11.6 mil for The Colony, a 240-unit ($48.3k/unit) apartment community located at 351 N. Peart Rd, west of I-10 and south of Florence Blvd in Casa Grande, AZ. Constructed in 2003, The Colony cons...
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•  Bascom Purchases 300-Unit Denver Apartment Complex for $8 Mil
8/09/10
The Bascom Group closed on a large Denver multifamily acquisition, having paid $7.9 mil for the Maples at Crestwood Apartments, a 300-unit ($26.3k/unit) community located on 84th Ave, less than one mile from I-25. The proper...
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• LA-Area Multifamily Sales Review
8/06/10
In a recent apartment sales comp from West Hollywood, Marilana Properties LLC paid $2.6 mil for an eight-unit ($325k/unit) property located at 866 Hilldale Ave. The luxury complex is a completely renovated turnkey property wi...
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• Construction Underway on Affordable Housing Development in Big Bear Lake
8/05/10
Construction is underway on a new a 42-unit affordable housing community within the city of Big Bear Lake. Called The Crossings at Big Bear Lake, the project is being developed by Urban Housing Communities LLC (UHC) in collab...
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• NoCal Apartment Community Lands $17.7 Mil in Refi Money
8/04/10
Walker & Dunlop provided a $17.66 in refi money on Crossbrook Apartments, a 226-unit garden-style apartment community in Rohnert Park. Built in 1986, the property is located at 655 Enterprise Dr, just off Hwy 101 in Sonoma Co...
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• Colorado Buyer Spends $20 Mil on AZ Multifamily Property
8/03/10
A 220-unit Arizona apartment community traded hands in a recent transaction valued at $20 mil ($90.9k/unit). The property, Sonoma Landing, is located at 4776 East Guadalupe Rd, south of Hwy 60 and just west of Power Rd in the...
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• Pieces Coming Together After Mosaic Ground Breaking Event
8/02/10
Mosaic, a new mixed-use workforce housing development in Los Angeles, recently broke ground with a public ceremony attended by Los Angeles City Councilman Ed P. Reyes along with a number of execs from the project developer, A...
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