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• Long Beach Apartment Trade Comes in at $300k per Unit
1/11/21
In recent multifamily comp out of Long Beach, a 22-unit apartment property in the city’s Alamitos Beach submarket traded for $6.6 mil, or $300k per unit. Built in 1964, the property is located at 1518 E. 3rd St, north of Ocea...
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• Western Wealth Capital Spends $55.6 Mil for 360-Unit Multifamily Property in Phoenix
1/08/21
Western Wealth Capital recently purchased Presidio North, a 360-unit multifamily property in Phoenix, for $55.6 mil ($154.4k/unit). The deal was financed with an acquisition loan of $38.6 mil.
The garden-style Presidio North...
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• BV Rentals Completes 1031 Exchange with SoCal Sale and Purchase Totaling $10.3 Mil
1/07/21
BV Rentals, a private real estate investment company, has sold a two-building, 21-unit apartment community in the Hyde Park neighborhood of Los Angeles and purchased a 27-unit apartment community in Torrance in a 1031 exchang...
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• Long Beach Res Comp Comes in at $277k/Unit
1/07/21
In a recent multifamily comp out of Long Beach, a 13-unit property traded for $3.6 mil, or $277k per unit. Built in 1962, the property is located at 4500 N. Lakewood Blvd, south of Del Amo Blvd.
The property contains 7.7k sf...
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• Trion Properties Buys Res Development Site in L.A.’s Pico-Robertson Neighborhood
1/06/21
Trion Properties has purchased a double-lot parcel in the Pico-Robertson neighborhood of Los Angeles, for a 29-unit luxury multifamily development. The site, located at 1442-1448 Bedford St, three blocks east of Robertson Bl...
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• Apartment Building in L.A.’s Westlake/MacArthur Park Submarket Goes for $112k/Unit
1/06/21
A 1920s-vintage, 27-unit multifamily building in the Westlake/MacArthur Park submarket of Los Angeles traded hands for $3.04 mil, or $112.5k per unit. The property is located at 946 S. Burlington Ave, west of the 110 Fwy and ...
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• Advanced Real Estate Spends $92 Mil on Two-Property OC Res Buy
1/05/21
Advanced Real Estate closed out 2020 with the purchase of a two-property, 245-unit Orange County res portfolio, valued at approximately $72 mil. The properties are located in the cities of Westminster and Anaheim.
The 128-...
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• Passco Companies Acquires 338-Unit Multifamily Community in Texas
1/05/21
Passco Companies has acquired Lenox Overlook, a newly constructed 338-unit luxury apartment community in San Antonio. The project, which was purchased from Oden Hughes, will be rebranded as TruNorth at Bulverde.
Built in 20...
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• Investor Pays Over $300k/Unit for Long Beach Res Property
12/31/20
Junipero Apartments, a 16-unit community in Long Beach, traded for $4.9 mil ($306k/unit), with numerous offers. Built in 1987, Junipero Apartments is located at 1071 and 1075 Junipero Ave, east of Cherry Ave and south of Anah...
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• Shapery Enterprises Picks Up 208-Unit Res Community in San Diego
12/30/20
Shapery Enterprises, out of San Diego, purchased Mission Trails, a 208-unit apartment community in the San Carlos neighborhood of San Diego. The price was not disclosed.
Located at 6975 Golfcrest Dr, the 175.2k sf property w...
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• Davlyn Investments Completes $95 Mil Sacramento Area Apartment Purchase
12/29/20
Davlyn Investments has purchased The Terraces at Highland Reserve, a 273-unit, Class A multifamily community in Roseville, CA, for $95 mil ($348k/unit). Constructed in 2002, the property will be re-branded as Ascent at the Ga...
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• San Fernando Valley Res Development Lands $82 Mil in Financing
12/29/20
A joint venture between Gelt and Uhon Inc has obtained new financing of $82.2 mil on The Watermark, a soon-to-be-delivered, 250-unit multifamily building located in the San Fernando Valley community of Reseda. The loan was or...
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• Knightvest Capital and Torchlight Investors Acquire 342-Unit AZ Residential Property
12/28/20
A partnership between Knightvest Capital and Torchlight Investors paid $87 mil for Shade at Desert Ridge, a 342-unit ($254.4k/unit) multifamily community in Phoenix.
Built in 2007, Shade at Desert Ridge amenities include a ...
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• AZ Multifamily Property Trades for $31 Mil
12/24/20
The Sterling, a 107-unit community in Gilbert, AZ, sold in a recent, $30.9 mil ($289k/unit) deal. The property, located 23 miles southeast of downtown Phoenix, was acquired by Casa Anita Apartments LLC.
The Sterling, previo...
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• Affordable Res Community in Redwood City is Welcoming Its First Tenants
12/24/20
Fair Oaks Commons, a new, 100% affordable residential rental community in Redwood City, has been completed and is now welcoming tenants. The project, located at 2821 El Camino Real, is a development of Alta Housing.
The new,...
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• TruAmerica Multifamily Makes Its First Buy in the Lone Star State
12/23/20
TruAmerica Multifamily closed on its first investment in the state of Texas with the acquisition of Arbors of Las Colinas, a 408-unit Class B apartment home community in the Dallas suburb of Irving. The price was not given ou...
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• Private Investors Trade Phoenix Multifamily Property in $18.25 Mil Deal
12/22/20
Vesta on 12th, a 104-unit apartment community in Phoenix’ Uptown neighborhood, was purchased by a private investor out of Denver for $18.25 mil, or $175.5k per unit. The property was sold by a Portland, OR-based private inves...
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• Two Los Angeles Apartment Properties Trade in Deals Totaling $20 Mil
12/22/20
Two multifamily properties in Los Angeles sold in separate deals that totaled about $20.5 mil. The assets have a combined 63 units.
In the larger deal, a 35-unit community at 7941 Selma Ave sold for $13.6 mil ($388.5k/unit)....
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• Private Investor Money Buys 240-Unit AZ Res Community
12/21/20
Enclave at Arrowhead, a 240-unit res community in Peoria, AZ was acquired by a private family investment entity for $63 mil, or $262.5k/unit. The property was sold by R&V Management and Wermers Properties.
Built in 2006, Enc...
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• SB Real Estate Partners Buys 224-Unit Apartment Complex in Phoenix
12/18/20
In a recent Phoenix res buy, SB Real Estate Partners (SBREP) has purchased Casa Anita Apartments, a 224-unit multifamily community located in the city’s West Valley submarket, for $35.3 mil ($157.6k/unit).
The property had ...
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