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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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• 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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