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• Fresno Multifamily Property Trades for $124k/Unit
4/18/23
Northbrook Apartments, a 92-unit, garden-style multifamily community in Fresno, sold for $11.4 mil, or about $124k/unit. The single-story complex is located at 584 E. Bullard Ave.
Northbrook Apartments offers a mix of one- a...
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• Historic Building in Downtown Los Angeles Acquired for Conversion into a Boutique Hotel
4/18/23
The Garfield Building, a 12-story, 102.2k sf historic structure in downtown Los Angeles, was acquired by a Bay Area investor in a $19 mil transaction. The deal closed on March 31, ahead of the enactment of Los Angeles’s prope...
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• Affordable Housing Project Gets Underway in Ontario
4/17/23
Related California has broken ground on Emporia Housing, a 50-unit affordable housing project in Ontario. The development, expected to reach completion by mid-Summer 2024, is being built by R.D. Olson Construction. Danielian ...
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• MG Properties Completes $67 Mil Res Buy in Colorado
4/17/23
MG Properties closed on the purchase of Ridge at Castle Rock Apartments, a 204-unit res community in Castle Rock, a Colorado town located south of downtown Denver, for $67.15 mil ($329k/unit). The property, formerly known as ...
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• Champion Real Estate Company Secures $40 Mil Refi on OC Student Housing Property
4/14/23
Champion Real Estate Company has refinanced University Village Fullerton, a 121 unit/427-bed student housing property in Fullerton, with a new loan for $40.5 mil. The property is located at 2000 Oxford Ave, just north of Yorb...
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• Commercial Real Estate Financing Briefs
4/14/23
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL -- Tom Turnage and Joe Galosic, Jr with Bellwether Enterprise originated a $58 mil loan to finance a luxury apartment community in Santa Barbara County. The property is a best-in-clas...
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• Res Property in L.A.’s Koreatown Neighborhood Goes for $238k/Unit
4/13/23
Gramercy Townhouse, a 30-unit in L.A.’s Koreatown neighborhood, traded hands in a $7.15 mil ($238.3k/unit) deal. Located at 430 S. Gramercy Place, Gramercy Townhouse is a three-story apartment building with a mix of studio, o...
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• Capital Improvement Program Well Underway at 597-Unit Marina del Rey Res Community
4/11/23
Equity Residential recently embarked on a $45 mil capital improvement program at Pearl Apartments, a 597-unit multifamily community in Marina del Rey, and has completed the first 87 upgraded residences. The asset is owned by ...
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• Newport Beach Apartment Property Goes for $720k/Unit
4/11/23
A five-unit multifamily complex in Newport Beach traded in a $3.6 mil deal, which works out to $720k per unit. Constructed in the 1970s, the property is located at 800-808 Amigos Way, just west of Jamboree Rd.
The complex is...
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• Fresno Multifamily Property Sells for $300k/Unit
4/11/23
Birch Commons, a 49-unit multifamily property in Fresno, sold for $14.75 mil ($301k/unit). Located on 4.77 acres at 1850 E. Birch Ave, Birch Commons is a townhome-style apartment community with a unit mix of one-, two-, and t...
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• Warner Center Property Goes for $137/sf in Land Value
4/07/23
CBRE brokered the sale of 6036 Variel Avenue in Woodland Hills, a 1.21-acre multifamily mixed-use development site within Warner Center, for $7,200,000 which equates to $137 per square foot for the land.
CBRE's Laurie Lusti...
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• Brixton Capital Buys 144-Unit Apartment Community in San Antonio
4/07/23
Brixton Capital has acquired The Atlee, a 144-unit, 157.5k sf multifamily community in the Olmos Park submarket of San Antonio, TX. The price was not disclosed.
The Atlee, located at 402 Holland Ave, features premier interi...
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• The Sutton Opens Its Doors in Portland
4/07/23
The Sutton, a new, high-end waterfront apartment complex in Portland’s North Pearl District, has officially opened to the public. The 236-unit project is a development of Lincoln Property Company.
The Sutton is a 17-story re...
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• Legacy Partners and The Resmark Companies Break Ground on 336-Unit TX Apartment Project
4/06/23
Legacy Partners and joint venture partner The Resmark Companies have broken ground on Legacy Gateway, a new 336-residence apartment community coming to Forney, TX.
The 14-acre site for Legacy Gateway is located at 1205 Gat...
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• Local Developer Buys 1.5-Acre Site in South Seattle
4/06/23
A 1.5-acre development site in South Seattle was acquired by locally-based real estate development, investment and management firm Bode in a $2.1 mil, all-cash deal. The buyer plans to develop a 330-unit housing project on th...
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• Advanced Real Estate Acquires Iconic Edison Tower in Downtown Long Beach
4/04/23
Advanced Real Estate has acquired the iconic Edison - a 12-story former office tower in Downtown Long Beach. The price was not immediately disclosed.
The property sits one block from Ocean Blvd at the terminus of the Metro R...
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• DMJ Capital Partners Closes $11.6 Mil Res Buy in San Diego’s Spring Valley Area
4/04/23
San Diego based DMJ Capital Partners LLC has purchased a value-add multi-family project consisting of 44 units for $11.65 mil ($265k/unit). The project is located at 3827 Conrad Dr in the Casa de Oro-Mount Helix neighborhood...
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• Seattle Apartment Complex Lands $53.5 Mil Refi
4/04/23
Cypress Apartments, a 237-unit, six-story, Class A, market rate apartment complex in Seattle’s Yesler Terrace community, has been refinanced with new permanent financing of $53.5 mil. The property, located at 120 Broadway, wa...
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• Insight Investment Partners Spends Over $8 Mil on 28-Unit Multifamily Property in El Cajon
4/04/23
Insight Investment Partners paid $8.12 mil for Easter Manor Apartments, a 28-unit ($290k/unit) multifamily property in El Cajon. Built in 1987, the property is located at 1113 Greenfield Dr.
The two-story walk-up style apa...
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• New Standard Equities Obtains $19.8 Mil Refi on Washington Multifamily Property
4/03/23
New Standard Equities (NSE) has secured a $19.8 mil refi loan on Village Fair Apartment Homes in Bremerton, WA. This was the third refinance of the 120-unit property since its purchase for $13.1 mil in December 2016. Its appr...
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