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• Condo Conversion Craze Making Dent in Multifamily Market
8/11/04
By William Ktsanes, Director of Research and Analysis
RealFacts
This latest column from RealFacts Director of Research William Ktsanes offers a very interesting overview of the current growing condo boom and how it is likely...
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• Planned 64-Story Luxury Vegas Condo Project is Hard to Trump
8/10/04
Developers are becoming more and more enamored with high density, vertical residential developments in the Southland, and around the country, as demand for additional residential units continues to grow and new sites for pote...
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• AvalonBay Purchases Redondo Beach Apartment Community
8/09/04
AvalonBay Communities Inc (NYSE/PCX: AVB) has acquired Esplanade Village, a 105-unit oceanfront apartment community in Redondo Beach, for $24.065 mil ($229.2k/unit). The company has renamed the complex Avalon at Redondo Beac...
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• Bascom Marches into Lafayette
8/05/04
Bascom Northwest Ventures LLC recently closed on another Bay Area apartment property, having paid $8.45 mil for the Park Terrace Apartments, a 67-unit ($126.1k/unit) complex located in Lafayette. The seller of the property is...
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• Investors Acquire 149-Unit Lake Elsinore Complex
8/04/04
The investment pros at Marcus & Millichap continue to rack up SoCal apartment sales, as these latest deals demonstrate. The largest of this group took place in Lake Elsinore, where a Southern California partnership paid $12.1...
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• It's Hammer Time at Laurel Bay
8/03/04
A San Diego investment group led by Jon Hammer of Hammer Ventures acquired the 150-unit Laurel Bay apartment complex in San Diego for $56.6 mil, or about $377.3k/unit, with plans to convert the property into condominiums. The...
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• Philadelphia Investment Group Goes for Summer View in the Valley
8/02/04
Summer View Apartments, a 170-unit apartment complex in the San Fernando Valley community of Sherman Oaks was acquired for $20.25 mil or about $119.1k/unit. Located at 15353 Weddington St, the complex was originally construct...
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• Mid-Year Report Suggests Stabilizing Multifamily Market in California
7/30/04
By William Ktsanes, Director of Research and Analysis
RealFacts
Apartment rents increased slightly in most of the top twenty-five Metropolitan Statistical Areas we surveyed in 2nd quarter 2004, generally without a significan...
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• Financing Notes
7/29/04
ARCS Commercial Mortgage Co, the big Calabasas-based multifamily lender, has recently completed financing on a couple of interesting redevelopment projects around downtown LA. One of the deals was the financing of $24.32 mil ...
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• California Apartment Sales Review
7/28/04
SAN DIEGO (San Diego County) – An investment group paid $16 mil for Point at La Plaza, a 124-unit ($129k/unit) apartment complex at 1021 Scott St, facing Shelter Island on the San Diego Peninsula. Built in the 1960s, Point at...
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• July 27, 2004 - Conversion of Vacant Downtown Office Tower is so RAD
7/27/04
Real estate developers Forest City Residential, RAD Management and TMG Partners have teamed up with MacFarlane Partners in a joint venture to convert a long-vacant downtown Los Angeles office tower into for-sale residential c...
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• CT Collects $19 Mil from Sale of Orange Complex
7/26/04
A Newport Beach private investor paid $19 mil for the Strada Apartments, a 130-unit ($146.2k/unit) community at 175 N. Feldner Rd, north of Chapman Ave and east of the 57 Fwy in the city of Orange. The property, which was 95%...
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• Norwalk Apartment Property Sells for $14 Mil
7/23/04
Newport Beach-based CT Realty Corp has acquired the Courtyards, a 151-unit apartment property in Norwalk, for $14.25 mil ($94.4k/unit). The complex was purchased from Granite Investment Group of Irvine. Formerly known as “Co...
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• Bascom Purchases 120-Unit Bakersfield Apartment Complex
7/22/04
Irvine-based The Bascom Group picked up another California apartment property, having paid $6.74 mil for Highland Knolls Apartments, a 120-unit complex located at 4021-4412 McCray St in Bakersfield. The seller in the deal, wh...
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• Multifamily Deal Notes
7/20/04
LAKESIDE (San Diego County) – A San Diego investment entity paid $11.52 mil for Laurel Park, a 72-unit ($160k/unit) apartment community at 12710-12750 Laurel St. The buyer, DF600 LLC of San Diego, plans to convert the units i...
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• 42-Acre Palm Springs Site Sells for $4.3 Mil
7/16/04
In an Inland Empire deal, Wessman Development Company paid $4.3 mil for Gene Autry Trail Business Park, consisting of 42 acres ($2.35/sf) of vacant land located near Ramon Rd in Palm Springs. The site is situated just off of ...
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• Revere Says "Two if We Buy with Seaview"
7/15/04
A pair of Inland Empire apartment properties, with a combined 118 units, was purchased by a private investor group in a deal valued at $10.15 mil ($86k/unit). The properties, both located in the Riverside County community of ...
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• Snyder Ups an Oak Creek in Agoura Hills
7/14/04
A few weeks ago, the J.H. Snyder Company, one of the LA-area's most celebrated developers, marked the grand opening of Oak Creek, a mixed-use development located on Canwood St in the community of Agoura Hills.
The project is...
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• Investors Betting on $30 Mil+ Apartment Properties in Vegas
7/13/04
We've got some news on a couple of major multifamily sales from Las Vegas to report. Although we don't have many details on these deals, we decided to post them anyways to give you some idea of what the apartment investment m...
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• Apartment Investors Looking to Make their Way in Hollywood
7/12/04
Brokers at Sperry Van Ness continue to rack up multifamily investment deals in the Southland, including the two apartment sales and the one land deal we're going to review in this report. The two apartment deals, both at a pr...
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