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• So Cal Multifamily Briefs
9/09/04
TUSTIN (Orange County) – An offshore investor purchased The Cottages, a 65-unit apartment complex at 1361 El Camino Real, for $15.1 mil ($232.3k/unit). The buyer intends to redevelop the site into a condo complex of 110 to 12...
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• Kennedy Wilson Gets A Good Manor in $68 Mil Apartment Buy
9/08/04
Beverly Hills-based Kennedy Wilson Properties Ltd has acquired Lakewood Manor Apartments, a 661-unit multi-family complex in the Los Angeles city of Lakewood. The garden-style property traded hands for $68 mil ($102.9k/unit)....
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• September 7, 2004 - StarPoint Earns Investors Points on Portfolio Sale
9/07/04
If you think the twenties were roaring for apartment development, then you'll be a bit envious of the recent new owners of two multifamily portfolios encompassing nine 1920s vintage apartment buildings, which were sold by St...
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• Financing Notes
9/07/04
Fremont Investment & Loan provided a $56 mil loan for Integral Partners' purchase of Piazza Palermo, a 230-unit condominium project located in the Little Italy neighborhood of Downtown San Diego. The loan, which equates to a...
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• Bascom Checks Into Bellevue
9/03/04
Bascom Northwest Ventures LLC, an affiliate of Irvine-based Bascom Group LLC, has just closed on its third apartment community in the Seattle area, which boosts its portfolio in the region to nearly 1,100 units. The latest ac...
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• SNK and Captec Team Up in Multifamily Development Venture
9/02/04
SNK Realty Group and Captec Financial Group Inc have joined forces in the creation of SNK Opportunity Partners, LLC, a joint venture with plans to develop at least 15 new multifamily projects coast-to-coast during the next fi...
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• San Diego Apartment Market Continues to Sizzle
9/01/04
San Diego County apartment sales hit a 15-year high during the second quarter of 2004, with 350 transactions involving 6,291 units. According to a just released Burnham Real Estate report, this is the highest number of sales...
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• Multifamily News Briefs
8/31/04
WOODLAND HILLS (Los Angeles County) – Wafick Zaky, a private investor, has purchased four separate hillside land parcels in Woodland Hills totaling 7.14 acres for a combined $3.57 mil. Zaky plans on developing 38 single-famil...
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• August 30, 2004 - $45 Mil Apartment Sale is a Breeze for CT Realty
8/30/04
Pacific Breeze Apartments, a 280-unit complex in the city of Oceanside, was purchased by a Woodland Hills-based investment group for $44.8 mil ($160k/unit). The buyer, an entity called Oceanside Breeze Ventures LLC, out of Wo...
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• The Crescent Rolls along in Beverly Hills
8/27/04
Construction is underway in Beverly Hills on The Crescent, an upscale mixed-use residential and office complex that represents the first new multifamily project here in over 20 years. Located on the corner of Wilshire Blvd an...
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• Multifamily Briefs
8/25/04
OCEAN BEACH (San Diego County) – A California limited liability company paid $5.45 mil ($237k/unit) for the Narragansett Apartments, a 23-unit complex at 5075 Narragansett Ave. Glenn Karp of Coldwell Banker Commercial handled...
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• Florida Developer to Redevelop Vegas Hotel into Krystle Sands
8/24/04
Tiforp Development Corporation, a major high-rise developer based in Florida, has purchased the Algiers Hotel and Casino in Las Vegas for $27 mil and plans to convert the former hotel into a high-rise luxury condominium compl...
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• Financing Notes
8/23/04
Los Angeles-based real estate banking firm George Smith Partners (GSP) has secured a $17 mil construction loan on the first office-to-loft conversion project in Los Angeles' Miracle Mile area, a 45k sf, 1961 steel-frame build...
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• Financing Notes
8/20/04
Buchanan Capital Advisors has arranged a $25 mil construction loan for Del Rey Club, a 203-unit luxury apartment development in the West LA community of Playa del Rey. Palos Verdes Developers, the borrower, was already under...
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• The Transit Village to Open in LA's Koreatown District
8/19/04
MacFarlane Partners and Urban Partners LLC have teamed up in a venture to develop Wilshire Vermont Station, a mixed-use “transit village” to be constructed above an existing MTA Metro Red Line underground rail station in the ...
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• $7.5 Mil Oceanside Apartment Sale is a Breeze
8/18/04
In this report we'll cover a trio of recent San Diego County apartment sales, the largest of which was in the northern county community of Oceanside, where a private investor paid $7.55 mil for a 72-unit ($104.9k/unit) comple...
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• Hemet Apartment Buyers are Whispering about Latest $10 Mil Deal
8/17/04
A 144-unit apartment complex in the Inland Empire city of Hemet sold for $10.4 mil, or about $72.2k/unit. The property is the Whispering Apartments, located on 5.5 acres at 201 S. Yale St. It was built in 1969 and consists of...
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• August 16, 2004 - Controversial Westside Projects Moving Forward
8/16/04
Over the past couple of months two very controversial projects on the Westside passed major hurdles, enabling them to move forward. In Westwood, what had been a long, protracted battle between community activists and develope...
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• O'Donnell/Atkins Lands more Big Land Deals
8/13/04
In this report we'll take a look at some of the latest deal news from O'Donnell/Atkins, the large land brokerage firm based out of Irvine. We'll start in San Jacinto, in Riverside County, where Barratt American acquired 580 s...
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• The KOR Group Ventures into Eastern Columbia
8/12/04
The KOR Group has acquired the Eastern Columbia Building, a historically significant building in downtown LA, with plans to convert the Art Deco structure into a residential condo development that will add about 140 new housi...
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