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• SB Real Estate Partners Spends $56 Mil on Phoenix Area Multifamily Buy
9/08/22
SB Real Estate Partners has purchased Obsidian on Ocotillo Apartments, a 232-unit multifamily project in Glendale, AZ, for $56.4 mil, or $243k/unit. The property was sold by Tower 16 Capital Partners, who acquired the asset i...
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• L.A. County Rental Housing Market Exits the Pandemic with Strong Demand
9/07/22
This report was provided by real estate services firm NAI Capital
Market Overview
The vacancy rate for multifamily housing in Los Angeles County fell to 3.3% in the second quarter of 2022, down 10 basis points quarter over ...
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• Roers Companies to Develop 264-Unit Res Project in Salt Lake City
9/07/22
Roers Companies has obtained a $61.8 mil loan to finance the ground-up development of 375 West Whitney Avenue, a six-story, Class A, multifamily project comprising 264 units and located in Salt Lake City, UT. The loan was ori...
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• Lake Elsinore Multifamily Property Traded in $64 Mil Deal
9/07/22
An entity of Atlantic Pacific Companies paid $64.5 mil for River’s Edge Apartments, a 184-unit ($350.5k/unit) multifamily property in Lake Elsinore, CA. Built in 2007, the property is located at 2088 East Lakeshore Dr, on the...
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• Community Preservation Partners Acquires Multifamily Communities in CA, NM and AZ
9/06/22
Community Preservation Partners (CPP) has acquired three multifamily housing communities located in California, New Mexico and Arizona.
One of the properties is Park Villa apartments in El Cajon, CA. The property is compris...
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• MG Properties Picks Up 289-Unit AZ Multifamily Asset
9/02/22
MG Properties has purchased 2150 Arizona Ave South Apartments, a 289-unit residential community in Chandler, AZ, for $107 mil ($370k/unit). MG has rebranded the property as 2150 Apartments.
The Chandler submarket of Phoenix ...
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• Universe Holdings Closes on 160-Unit Multifamily Community in the Inland Empire
9/02/22
In a recent Inland Empire multifamily trade, Universe Holdings purchased Stonegate Apartments, a 160-unit multifamily asset in Riverside. The price was not given out, however, we can tell you that the deal was financed with a...
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• Trion Properties and Tokyu Land US Corporation Wrap Up $99 Mil Recapitalization of Portland Multifamily Portfolio
9/01/22
Trion Properties has recapitalized a multifamily portfolio in the Portland greater metropolitan area in partnership with Tokyu Land US Corporation (“TLUS”). Assembled between 2018 and 2019, the portfolio consists of two multi...
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• Res Property in the San Fernando Valley Trades for $369k per Unit
8/31/22
Addison Arms Apartments, a 57-unit apartment building in the San Fernando Valley community of Sherman Oaks, traded in a deal worth $21.05 mil, or $369.3k/unit. The property is located at 14320 Addison St, north of the 101 Fwy...
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• Ridgecrest Multifamily Comps Works Out to $107k/Unit
8/30/22
Norma Street Apartments, a 66-unit multifamily community in Ridgecrest, sold for $7.1 mil ($107.5k/unit). The property is located at 800 South Norma St, east of Downs St and north of China Lake Blvd.
Built in 1992, the Norma...
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• E&S Ring Lands $46 Mil of Refi Loans on Trio of Bay Area Res Properties
8/30/22
E&S Ring has secured $46 mil in refi loans on a three-property multifamily portfolio in Pleasanton, CA. The garden-style portfolio consists of a combined 274 units and features community amenities including swimming pools and...
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• SummerHill Apartment Communities Wraps Up Work on New Multifamily Project in South San Francisco
8/30/22
Nine88, a new mixed-use, multifamily community situated in the heart of South San Francisco, has been completed and has officially opened its doors to the public. The 172-unit project, a development of SummerHill Apartment Co...
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• Adjacent Apartment Buildings in L.A.’s Brentwood Area Fetch $4.8 Mil
8/29/22
Two adjacent apartment buildings totaling 12 units in Los Angeles were sold for $4.8 mil ($400k/unit). The properties are located at 11307 Isleta St and 217 Church Lane in the Brentwood neighborhood on Los Angeles’ Westside.
...
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• Washington Multifamily Property Traded for $299k/Unit
8/26/22
Insignia Apartments, a 162-unit residential community in Bremerton, WA, sold for $48.5 mil, or $299.4k/unit. The seller was Security Properties.
Built in 2017, Insignia Apartments is a garden-style multifamily community with...
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• Washington Multifamily Project Lands $60 Mil Refi
8/25/22
The Park in Bellevue, a 184-unit multifamily project in Bellevue, WA, was refinanced by affiliates of Low Tide Properties and Continental Properties LLC with a new loan for $60 mil. Dave Karson, Alex Hernandez, Chris Moyer, A...
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• Downtown Seattle Development Parcel Trades for $17.5 Mil
8/25/22
A 0.61-acre site in downtown Seattle’s Belltown neighborhood was acquired by an unnamed buyer for $17.5 mil. The 26.6k sf parcel, located at 2700 1st Ave, is zoned for residential development up to 267 units.
The zoning allo...
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• Norpoint Communities Refinances Four Age-Restricted Res Properties in the Puget Sound Region
8/24/22
Norpoint Communities has landed $71.45 mil in separate permanent financings to refinance four 55-Plus age-restricted, active adult multifamily properties in the Puget Sound region. The financing was arranged by Gantry.
The p...
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• Sares Regis Group Closes on 386-Unit Multifamily Purchase in the Denver Area
8/24/22
Sares Regis Group has acquired Terracina Apartments, a 386-unit multifamily property in Broomfield, CO. The firm has obtained $139.9 mil in first mortgage money from Mesa West Capital for the acquisition and repositioning of ...
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• Three-Property Multifamily Portfolio in the San Gabriel Valley Gets a New Owner
8/23/22
A three-property, 116-unit multifamily portfolio in Azusa sold for $33.6 mil, or $290k/unit. All of the properties are located in a prime and fast-growing area close to downtown Asuza and Asuza Pacific University.
Each comp...
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• Multifamily Community in Surprise, AZ Sells for $85 Mil
8/23/22
Villas at Mountain Vista Ranch, a 256-unit, value-add multifamily community in the Phoenix suburb of Surprise, was sold in a deal worth $85 mil, or $332k/unit.
Built in 2003, Villas at Mountain Vista Ranch is a garden-style...
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