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• Kennedy Wilson Spends $265 Mil on Two Seattle Multifamily Communities
10/07/21
Kennedy Wilson has added two wholly owned apartment properties to its Seattle, WA portfolio. The acquisitions include The Bristol at Southport, the region’s largest waterfront apartment asset at 383 units, for $191 mil and Ge...
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• Intracorp Breaks Ground on New Class A Apartment Development in the Irvine Business Complex
10/06/21
Intracorp has broken ground on a new 178-unit Class A apartment development at 2055 Main Street in the heart of the Irvine Business Complex (IBC) in Irvine. The project, located at 2055 Main, on the corner of Main St and Gill...
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• MG Properties Group Spends $108 Mil on Denver Res Community
10/06/21
MG Properties Group has acquired Neon Local Apartments, a 238-unit multifamily property in Denver’s South Broadway neighborhood, for $108.2 mil ($454.6k/unit). Built in 2020, this community is located at 99 S Broadway, in the...
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• Upscale Santa Monica Res Property Sells for $1.84 Mil per Unit
10/05/21
A 38-unit luxury multifamily community in Santa Monica was purchased by an Asian private investor for $70 mil, in a deal that works out to a whopping $1.84 mil per unit. The asset was sold by Malibu-based Marquis Property Com...
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• Downey Multifamily Sales Comp Works Out to $285k per Unit
10/05/21
A 20-unit apartment building in Downey traded hands for $5.7 mil, which works out to $285k per unit. Both parties were private investors.
Located at 7348-7350 Florence Ave, the property features all two-bedroom/one-bathroom ...
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• TriWest Multifamily Buys 312-Unit Res Community in Albuquerque
10/05/21
TriWest Multifamily has acquired Monterra Apartments, a 312-unit residential community located at 4217 Louisiana Blvd NE in Albuquerque, New Mexico. The property was purchased in an off-market transaction from Vukota Capital...
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• Kennedy Wilson Spends $134 Mil on 332-Unit CO Multifamily Property
10/01/21
Kennedy Wilson has acquired Griffis Marston Lake, a wholly owned 332-unit suburban apartment community in Denver, CO for $134 mil ($403.6k/unit), excluding closing costs. Kennedy Wilson invested $62 mil of equity and secured ...
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• Sunrise Management Lands 23-Property Res Management Assignment
9/30/21
San Diego-based Sunrise Management has taken over day-to-day management of 23 San Diego County multifamily communities totaling 632 units. The apartment portfolio is owned by Positive Investments Inc of Arcadia.
According t...
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• Waterford Property Company and California Statewide Community Development Authority Spend Over $200 Mil on Two Res Communities in the City of Orange
9/28/21
Waterford Property Company has teamed up with California Statewide Community Development Authority (CSCDA) in the acquisition of two multifamily properties in the City of Orange, totaling 356 units.
The Orange acquisitions ...
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• Phoenix Apartment Property Sells for $60 Mil
9/28/21
The Amara, a 302-unit apartment property in Phoenix, was acquired for $60 mil ($199k/unit) by a private investor in Washington state.
The Amara is a two-story property located at 2802 East Osborn Rd between Phoenix’s Biltmo...
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• Recently Constructed Apartment Property in Chula Vista Obtains $14.1 Mil Fannie Mae Take-Out Loan
9/27/21
The Broadway, a 62-unit multifamily property in Chula Vista, was refinanced with a new loan for $14.1 mil. Aaron Beck with NorthMarq arranged the loan through Fannie Mae and NorthMarq’s DUS platform.
The newly constructed pr...
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• SB Real Estate Partners Closes on 126-Unit Value Add Res Buy in Mesa
9/24/21
SB Real Estate Partners (SBREP) has acquired ReNew 3030, a Class B, 126-unit garden-style apartment community located in Mesa, AZ, for $24.3 mil ($193k/unit). The property, viewed as a value-add opportunity, has been renamed ...
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• JB Matteson Inc Closes Six Multfamily Assets Refis Totaling $132 Mil
9/24/21
JB Matteson Inc has refinanced six CA and WA multifamily properties comprising a total of 965 units in separate transactions totaling $132 mil.
The six permanent loans were arranged by Dennis Williams and Tom Wight of NorthM...
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• Dunbar Residential Investments Closes $13.6 Mil Vista Res Buy
9/23/21
OC-based Dunbar Residential Investments LLC paid $13.6 mil for Sunset Cliffs Apartments, a 52-unit ($261.5k/unit) gated rental community in Vista. The property, comprised of a mix of single-story cottage and two-story townhom...
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• High-End Res Development in Downtown Seattle Tower Opens to Public
9/21/21
The Residences at Rainier Square, a new residential development in Seattle, has been completed and is now welcoming its first residents. The 189-unit project, a development of Wright Runstad & Company and J. P. Morgan Global ...
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• Investors Trade Pasadena Multifamily Property in $8 Mil Deal
9/21/21
A 22-unit multifamily community in Pasadena was purchased by a local private investor for $7.95 mil, or $361.4k/unit. Constructed in 1960, the two-story, 18.2k sf property is located at 175 S. Madison Ave, in Pasadena’s Playh...
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• The Ledges at West Campus in Tucson Acquired for $33.75 Mil by Tara Investment Group
9/20/21
Tara Investment Group LLC purchased The Ledges at West Campus, a 205-unit multifamily community in Tucson, for $33.75 mil, or $164.6k/unit. Berger Investment Group was the seller.
Built in 1997, The Ledges at West Campus is ...
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• Gelt Inc Buys 312-Unit OC Res Property in $146 Mil Deal
9/17/21
Gelt Inc has acquired The Oasis Anaheim, a 312-unit, transit-oriented apartment property in the northeast area of Anaheim, for $146.5 mil ($469.6k/unit). The property, located at 3530 E. La Palma Ave, was sold by Redhill Real...
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• L.A. Site Entitled for 65-Unit Res Development Trades for $6 Mil
9/17/21
A 16k sf parcel in Los Angeles currently entitled for development of up to 65 residential units was purchased by a private investor/developer for $6 mil. The land, located at 606 N. Western Ave, just south of Melrose Ave, was...
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• Buchanan Street Partners Picks Up 294-Unit Texas Multifamily Property
9/16/21
Buchanan Street Partners has acquired 4600 Ross, a 294-unit multifamily community located in Dallas. The asset was sold by Cypress Real Estate Advisors. The price was not disclosed.
Built in 2020, 4600 Ross features 51 stud...
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