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• Kennedy Wilson and Goldman Sachs Asset Management Close $106 Mil Apartment Buy in Seattle
2/03/22
Coppins Well, a 236-unit, high-rise apartment community in Seattle, was acquired by Kennedy Wilson and Goldman Sachs Asset Management for $106.5 mil ($451k/unit), excluding closing costs. Completed in 2012, the 17-story build...
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• TruAmerica Multifamily Launches Build-For-Rent Division
2/03/22
TruAmerica Multifamily has launched a Build-For-Rent (“BFR”) development division to build townhome and single-family rental communities in suburban submarkets. The initial roll-out of TruAmerica’s in-house BFR platform will ...
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• EPIC Multifamily Real Estate Fund I LP Buys 188-Unit Phoenix Apartment Complex
2/03/22
EPIC Multifamily Real Estate Fund I LP has acquired Urban188, a 188-unit, value-add, garden-style workforce housing community located in Phoenix. EPIC financed the deal with a new loan for $24.25 mil.
Consisting of 10 reside...
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• SB Real Estate Partners Spends $75 Mil on 270-Unit Res Community in the Portland Area
2/03/22
SB Real Estate Partners (“SBREP”) has acquired Bridge Creek Apartments, a 270-unit, garden-style multifamily community in the Portland, OR submarket of Vancouver, WA, for $75 mil ($278k/unit). The property will be rebranded a...
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• San Jose Apartment Community from 1961 Sells for $379k per Unit
2/02/22
A 24-unit multifamily asset in Willow Glen, a prime submarket of San Jose, traded hands in a recent $9.1 mil ($379k/unit) transaction. The property is located at 51 Glen Eyrie Ave, south of I-280 and west of Hwy 87.
Original...
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• High Street Residential and PGIM Real Estate Begin Work on 192-Unit Scottsdale Res Project
2/02/22
High Street Residential (HSR), the residential subsidiary of Trammell Crow Company (TCC), and JV Partner PGIM Real Estate have broken ground on Raintree Multifamily, a 192-unit residential community in Scottsdale, AZ. The new...
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• SB Real Estate Partners Picks Up 114-Unit AZ Multifamily Property
2/01/22
SB Real Estate Partners (“SBREP”) has acquired Bloom 24, a 114-unit garden style multifamily community in Phoenix, AZ for $34.2 mil, or $300k per unit.
Built in 1973 and located at 2323 East Flower St, the property will be ...
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• Long Beach Apartment Property from the 1960s Sells for $394k/Unit
2/01/22
A 16-unit apartment property in Long Beach traded hands in a recent $6.3 mil ($394k/unit) transaction. The property is located at 445-455 Rose Ave in the city’s 4th Street / Retro Row neighborhood.
Built in 1963, 445-455 Ros...
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• National Multifamily Housing Council and Grace Hill 2022 Renter Preferences Survey Report Reveals Renters’ Current and Future Wants and Needs
1/31/22
The 2022 Renter Preferences Survey Report just released by National Multifamily Housing Council (NMHC) and Grace Hill provides a comprehensive look at the home features and community amenities that renters can’t live without,...
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• Res Development Site Across from UC Berkeley Campus Goes for Over $21 Mil
1/28/22
A development site of 0.3 acres situated across the street from the University of California, Berkeley was acquired by an unnamed investor for $21.5 mil. The buyer plans to build an 87-unit, 232-bed student housing developmen...
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• Tru Development Locks Up New Financing of $246 Mil on Two Nevada Res Properties
1/28/22
Tru Development has obtained $246 mil in construction debt, Co-GP equity and LP equity across two apartment development projects totaling 716 units in Nevada. They were advised in the transaction by Lucent Capital.
KaktusLif...
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• 95-Year-Old Multifamily Property Outside of Downtown L.A. Trades in $15.5 Mil Deal
1/27/22
Frostonya Apartments, an 81-unit multifamily complex in Los Angeles, traded hands for $15.475 mil ($191k/unit). Built in 1927, the property is located at 346 North Vermont Ave.
The building had been placed on the market for ...
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• Belvedere’s First Housing Proposal Under New State Legislation Submitted to the City
1/27/22
The owners of Mallard Pointe submitted a final application under Senate Bill 330 to the City of Belvedere to revitalize the existing 2.8-acre site with a new, mixed-income community of 42 residences, adjacent to Belvedere Lag...
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• Cypress Equity Investments Completes Construction of 186-Unit Tacoma Res Community
1/27/22
Cypress Equity Investments (CEI) has completed construction of Hailey, a 186-unit apartment community in the heart of Tacoma. Located at 1210 Tacoma Avenue S at 13th St, Hailey offers a mix of studio, one-bedroom and two-bedr...
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• Davlyn Investments Buys 312-Unit Res Property in North Las Vegas
1/26/22
Davlyn Investments recently acquired Sonata, a 312-unit, Class A, multi-family community in North Las Vegas, in a $77 mil transaction that works out to $247k/unit. Built in 2009, the property is located at 4201 E Craig Rd, ju...
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• Private Investors Trade 116-Unit Multifamily Property in Windsor, CO
1/26/22
Chestnut Square Apartments, a 116-unit multifamily property located at 601 Chestnut St in the town of Windsor, CO, traded hands. The price was not disclosed. The location is approximately 15 miles outside of Fort Collins in n...
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• Gelt Inc Completes $156 Mil Long Beach Multifamily Buy
1/25/22
Gelt Inc acquired Volta on Pine, a 271-unit, Class A apartment community in Long Beach, for $156 mil, or $575.6k/unit. Built in early 2021, Volta on Pine is situated on just over one acre at 635 Pine Ave.
The property includ...
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• RISE Properties Trust Obtains $55 Mil for Purchase and Renovation of Downtown Portland Apartment Property
1/24/22
RISE Properties Trust has secured a $55 mil senior loan for the acquisition and renovation of 10th & Hoyt, a 178-unit, apartment building with 13.1k sf of ground floor commercial space in Portland. The building is located at ...
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• Anaheim Apartment Building Trades for $37 Mil
1/24/22
A San Jose-based private investor purchased Echo116, a 116-unit apartment community in Anaheim, for $37.25 mil ($321.1k/unit). The property, located at 1727 Glenoaks Ave, had multiple offers.
Built in 1969 and 1970, ECHO116 ...
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• Seven-Property California Portfolio Refinanced with $223 Mil in Permanent Loans
1/20/22
A seven-property California real estate portfolio owned by a private investor was just refinanced with seven new permanent loans totaling $223 mil arranged by George Mitsanas of Gantry. The portfolio is comprised of three mul...
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