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JPI Picks Up Site at Mosaic Redevelopment Project in Downtown Long Beach 5/09/24 JPI acquired a 1.58-acre portion of the Mosaic redevelopment site in downtown Long Beach. The parcel, bound by Long Beach Blvd, 4th St, The Promenade North, and 5th St, is entitled for 272 units of Class A luxury for-rent apa...
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Investors Snap up Costa Mesa Apartment Properties 5/08/24 We’ve got three recent multifamily property comps from Costa Mesa to share with you. The transactions totaled 13 units with a combined price of $7.42 mil.
In one deal, a six-unit property at 2666 Orange Ave sold for $3.235 m...
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AAA Management Lands $78 Mil in Construction Money for 251-Unit San Diego Res Development 5/07/24 San Diego-based AAA Management has obtained $78.5 mil in construction financing for Ion Clairemont, a 251-unit, mid-rise multifamily development in San Diego’s Kearny Mesa area. The project, located at 8333 Clairemont Mesa Bl...
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Community Preservation Partners Acquires 14-Unit Housing Asset in the San Fernando Valley 5/03/24 Community Preservation Partners has acquired Canoga Park Apartments, an affordable housing development in the western San Fernando Valley. This is the fifth community in the greater Los Angeles area for CPP and the 60th in th...
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Phoenix Dev Site Goes for $13 Mil 5/02/24 Scottsdale-based Aspirant Development purchased a 3.29-acre land parcel in downtown Phoenix for $13 mil ($91/sf). The parcel, located at 1500 N. Central Ave, is planned for the development of a 25-story res tower.
The planne...
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Galveston, TX Luxury Condo Project to Move Forward with $100 Mil in Construction Money 5/02/24 Satya has secured $100 mil in construction money for construction of Tiara on The Beach, a 63-unit condo project in Galveston, TX. The loan is being funded through International Bank of Commerce. The 10-story development repr...
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Riverside Res Property Sells for $228k/Unit 5/01/24 Potomac Apartments, a 34-unit multifamily property in Riverside, traded hands in a recent $7.75 mil ($228k/unit) transaction.
Located 1.5 miles from California Baptist University, the property features studio, one- and two-b...
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Workforce Housing Project in Central Maui Opens to the Public 5/01/24 Kaulana Mahina Apartments, a 324-unit community in the Central Maui community of Wailuku, Hawai’I, has been completed and is now open to the public. The residential project is a development of Legacy Partners and AFL-CIO Bui...
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Washington Apartment Property Sells for $53 Mil 4/30/24 2000 Lake Washington, a 186-unit multifamily community in Renton, WA, traded hands in a $53.2 mil ($286k/unit) transaction. The asset was sold by New York Life Real Estate Investors.
Situated on 9.2 acres at 1300 N 20th St i...
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Kennedy Wilson and Haseko Corporation Team Up in $90 Mil WA Multifamily Buy 4/30/24 A real estate fund managed by Kennedy Wilson has partnered with Haseko Corporation on a $90 mil multifamily buy in Vancouver, WA. The venture acquired a two-property, 350-unit ($257k/unit) portfolio consisting of The Farmstea...
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Private Investor Buys Res Development Site in Santa Ana 4/30/24 A private investor paid $1.16 mil for a 0.29-acre development site, fully entitled for 15 apartment homes, near Downtown Santa Ana.
The “shovel-ready” development, currently named 4G Lofts, is situated at 1212 East 4th St, n...
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Meta Housing Corp Starts Work on Affordable Housing Project in the West San Fernando Valley 4/29/24 Meta Housing Corp has broken ground on a new 238k square-foot, seven-story affordable housing apartment complex in the western San Fernando Valley community of Woodland Hills. The project is being built by R.D. Olson Construc...
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Sacramento Gets Its First Build-To-Rent Affordable Housing Project 4/26/24 A new affordable, workforce housing development in Sacramento, Tanzanite Homes, is the city’s first Build-To-Rent (BTR) single-family home community and the first to add a mix of Accessory Dwelling Units (ADU.) Offering 211 h...
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Bay Area Res Community Gets Recapitalized in Deal that Values the Asset at $45 Mil 4/25/24 Interstate Equities Corporation (IEC) has recapitalized The Gates at Marina, a 136-unit multifamily garden-style community in Marina, CA. The deal gives a co-mingled fund advised by New York-based Clarion Partners a majority ...
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Work Wrapping Up on New 254-Unit Res Tower in San Francisco’s Mission Rock Neighborhood 4/25/24 Verde, a new 254-unit multifamily development in San Francisco’s Mission Rock neighborhood, has been completed and has now begun leasing. Located at 1070 Bridgeview Way, south of Oracle Park and just steps away from China Bas...
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MBK Rental Living Wraps Up Work on New 389-Unit Res Community in Silicon Valley 4/24/24 Vida at Morgan Hill, a new, Class A, 389-unit, three-story residential community in the Silicon Valley city of Morgan Hill, has been completed and is now leasing. The project, a development of MBK Rental Living, consists of o...
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Seattle Multifamily Property Sells for $258k/Unit 4/24/24 James Bon Apartments, a freestanding, three-story multifamily building plus basement located in the popular urban hub of 85th and Greenwood in north central Seattle, sold for $3.1 mil, or $258k/unit. The property is located a...
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Grubb Properties Obtains $20 Mil for Three SoCal Retail to Res Conversions 4/23/24 Bolour Associates has provided over $20 mil in debt financing for the redevelopment of three Southern California retail projects. Upon redevelopment, the sites will deliver 375 new apartment units by North Carolina-based Grub...
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Advanced Real Estate Creates an Investment Alternative to a 1031 Exchange 4/23/24 Advanced Real Estate has launched a new investment alternative to the 1031 tax deferred exchange, called the X Fund. Since August 2023, Advanced has joined together the owners of $50 mil of smaller properties. Advanced will u...
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Orange County Multifamily Property Trades in $10 Mil Deal 4/22/24 A private investor paid just over $10 mil for a 30-unit multifamily community in Westminster, CA in a deal said to be the city’s largest multifamily sale in the past 12 months. The buyer was an OC-based 1031 exchange investor...
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