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• Dean Zander Joins Newmark as Vice Chairman
7/05/24
Dean Zander has joined Newmark as Vice Chairman, based in the Century City office in West Los Angeles. Zander brings over three decades of experience in the multifamily sector throughout Southern California, closing transacti...
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• L.A. County Commercial Real Estate Faces Summer Slowdown Amid Rising Vacancies and Mixed Rent Trends
7/05/24
This report provided by real estate services firm NAI Capital Commercial
Los Angeles County's commercial real estate markets slowed in the first half of 2024, heading into the slow days of summer, with vacancy rates rising, ...
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• High-End Denver Res Community Sells for $640k/Unit
7/05/24
Epp & Sons Inc has acquired One19 Cherry Creek, a 36-unit multifamily community in Denver, in a $23.05 mil transaction. That works out to a price of $640k per unit for the high-end res project.
Located at 119 S. Harrison St ...
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• Three OC Multifamily Triplexes Sell in Deals Worth a Combined $7 Mil
7/03/24
Three multifamily triplex properties in Orange County traded hands in recent deals to separate buyers totaling $7.05 mil.
In one of the transactions, a three-unit multifamily property, which included a non-conforming unit, a...
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• Apartment Property in Camas, WA Sells for Nearly $400k/Unit
7/02/24
Clara Flats, a 30-unit mixed-use apartment building in Camas, WA, traded hands for $11.9 mil, or $396.7k/unit. The out-of-state buyer was in a 1031 tax-deferred exchange and was further attracted by Clara Flats’ highly desira...
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• Washington-Based Developer Buys 14 Acres in Silverdale, WA for Res Project
7/02/24
Six contiguous land parcels totaling 14.3 acres in Silverdale, WA sold for $2.4 mil. The buyer was Bode, a Washington-based multifamily developer, while the seller was a Washington-based private investor.
The development sit...
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• RXR and Korman Communities Acquire New 400-Unit Luxury Res Development in Phoenix
7/02/24
A venture between RXR and Korman Communities acquired The Blake, a 400-unit luxury multifamily community in Phoenix. The property was sold by a venture between StreetLights Residential and an affiliate of RED Development.
Th...
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• TruAmerica Multifamily Picks Up 234-Unit Vegas Area Apartment Project
6/28/24
TruAmerica Multifamily has purchased Parkway Townhomes, a 234-townhome property in Henderson, NV. The asset, located 2675 Windmill Pkwy, marks TruAmerica's 15th active property in the Las Vegas MSA.
Built in 1995, Parkway T...
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• Mill Creek Residential Buys 290-Unit TX Res Community
6/28/24
Boca Raton-based Mill Creek Residential acquired The Park on Brodie Lane, a 290-unit multifamily asset located at 6607 Brodie Lane in Austin, TX. The price was not disclosed.
Situated across 39 acres, The Park on Brodie Lan...
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• Large 262-Acre Development Parcel in Bend, OR Being Marketed for Sale
6/27/24
Oregon Department of State Lands has put on the market 262 acres of developable land in Bend, OR. Referred to as the Stevens Road Tract – Phase II, the property is within the City of Bend Urban Growth Boundary and presents th...
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• Washington Multifamily Portfolio Sells for $3.3 Mil
6/26/24
Chestnut Grove Townhomes, an 18-unit multifamily portfolio in Yakima, WA, traded hands in a $3.34 mil ($185.5k/unit) transaction. The portfolio consists of nine duplexes located at 100 Peach Tree Lane.
Built in 2000, the por...
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• Luxury Res Development in Sunnyvale is Completed and Available for Leasing
6/26/24
Leasing is underway at The Martin, a new 479-unit, apartment community in downtown Sunnyvale. The 12-story project, a development of Sares Regis Group of Northern California (SRGNC), is located at 240 S. Taaffe St, south of C...
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• Mid-Rise Apartment Building in Seattle Sells for $20 Mil
6/25/24
Uptown Queen Anne Apartments, a mid-rise apartment building in Seattle with 60 res units and two commercial spaces, traded hands for $19.9 mil. The property is located at 315 1st Avenue W, just west of the Space Needle and Hw...
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• Nexstar Homes Buys 40-Acre Development Site in Phoenix
6/24/24
Nexstar Homes paid $4 mil for a 40-acre development site in Phoenix in an off-market transaction. The property is located at the northwest corner to south of the southwest corner of 7th St and Carefree Hwy.
The site is one o...
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• 400-Unit Phoenix Res Development Lands $120 Mil in Construction Money
6/24/24
VeLa Development Partners has obtained $120 mil in construction financing for the development of Ray Phoenix, a 401-unit, 26-story multi-family residential building located in downtown Phoenix. The financing was arranged by J...
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• AO Wins Multiple Awards at PCBC Gold Nuggets Ceremony
6/21/24
Architecture firm AO was a multiple-award winner at the recent PCBC Gold Nugget Awards ceremony, held at The Westin Resort in Anaheim.
The Gold Nugget Awards, which debuted in 1963, is the oldest and most prestigious desig...
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• Upscale Multifamily Property in L.A.’s Brentwood Neighborhood Lands New $49 Mil Loan
6/21/24
Gortikov Capital has secured a $49.5 mil floating rate senior bridge loan on Luxe Villas, a 60-unit, Class A multifamily building in the upscale L.A. neighborhood of Brentwood. Developed in 2005 and fully renovated in 2023, t...
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• Portfolio of Multifamily Properties in San Francisco’s Russian Hill and Nob Hill Districts Put on the Market
6/21/24
A portfolio of three historically significant multifamily assets in San Francisco’s Russian Hill and Nob Hill districts has been put on the market for the first time since their construction in the 1950s. The buildings, locat...
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• Colorado Springs Multifamily Trade Comps at $146k/Unit
6/20/24
Cottonwood Creek Apartments, a 24-unit apartment community in Northeast Colorado Springs, CO, traded hands in a recent $3.5 mil ($145.8k/unit) deal. Located at 1419-1431 Imperial Rd, the 18k sf garden apartment community is d...
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• Ravello Holdings and WNC & Associates to Build Single-Family Affordable Housing Project in Lancaster
6/20/24
Ravello Holdings and WNC & Associates have closed a deal to begin construction on Maison’s Sierra, an affordable housing community comprised of 196 single-family affordable rental homes in the north L.A. County city of Lancas...
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