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• Investors Trade 17-Unit Res Asset in Laguna Beach
12/18/20
Twin Palms, a 17-unit apartment property in Laguna Beach, has traded for $9.8 mil, or $576.5k/unit. The property was purchased by a Long Beach-based private investor.
Built in 1956, the two-building trophy property is locate...
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• Village Development Begins Work on 71-Unit Mixed-Use Project in the Portland Area
12/17/20
Village Development LLC has started work on a new a mixed-use complex in Fairview, OR, a suburb of Portland. Village Development obtained a $12.5 mil construction loan from Parkview Financial to fund the project.
The two-bui...
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• Multifamily Property in Lake Elsinore Trades Hands
12/16/20
Lakehouse Apartments, a 128-unit value-add multifamily opportunity in Lake Elsinore, was purchased by Prism Multifamily Group, based in Ontario, Canada. It was sold by The Parker Equity Fund LLC, an affiliate of Forge Partner...
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• CALCAP Advisors Picks Up 127-Unit Multifamily Property in Phoenix
12/15/20
California-based CALCAP Advisors paid $13 mil for University Commons, a 127-unit ($102.4k/unit) multifamily property in Phoenix. The property, located at 3450 W. Missouri Ave, directly across from Grand Canyon University (GCU...
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• Wakeland Housing and Development Corporation Breaks Ground on Two L.A. Affordable Housing Communities
12/15/20
Wakeland Housing and Development Corporation has broken ground on two Los Angeles affordable housing communities. The projects - the 54-unit Amani Apartments and 43-unit Chesterfield Apartments - will bring much-needed low-co...
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• Parkview Financial Provides $80 Mil Loan for Construction of Newport Beach Luxury Condo Project
12/14/20
One Newport Development LLC is slated to start vertical construction in early 2021 on Uptown Newport, a residential project consisting of 66 for-sale luxury condominiums in Newport Beach, thanks to an $80 mil construction loa...
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• Hometown America Buys 200-Site Manufactured Home Community in the East Bay
12/14/20
Hometown America has acquired the 200-site Eden Roc manufactured home community in the San Francisco Bay Area city of Hayward. The purchase was financed with a $17.5 mil acquisition loan.
Situated on 21 acres, the Class A Ed...
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• Next Wave Investors Buys TX Res Property
12/11/20
Next Wave Investors LLC purchased Shiloh Park Townhomes, a 73-unit multifamily community in Plano, TX, via a subsidiary company. The property, located at 3500 E. Park Blvd, was purchased from a private California-based seller...
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• Advanced Real Estate Services Pays $265k per Unit for Santa Ana Res Community
12/11/20
Advanced Real Estate Services purchased Solare Apartments, a 240-unit multifamily asset in Santa Ana, for $63.75 mil, which works out to $265.6k per unit. The property, located at 2111 W 17th St, was sold by a private investo...
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• MG Properties Group Spends $191 Mil on WA Res Project
12/10/20
MG Properties Group has closed on a major, year-end multifamily buy in Washington, paying $191 mil for LIV Bel-Red Apartment Homes, a 451-unit ($423.5k/unit) res project in Bellevue. The asset was sold by Kennedy Wilson Fund ...
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• Cityview Locks in Financing for $125 Mil Mixed-Use Project Near USC
12/10/20
Cityview has secured funding for Adams & Grand, a $125 mil mixed-use project located in an opportunity zone near the University of Southern California (USC) in Los Angeles. Funded with capital from opportunity zone investors,...
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• Trion Properties and Walker & Dunlop Buy 136-Unit Multifamily Community in the Sacramento Area
12/10/20
Trion Properties has acquired Bella Pointe Apartments, a 136-unit multifamily community in the Sacramento submarket of Rancho Cordova, for $18.25 mil or $134k per unit. Trion specializes in multifamily investments in western ...
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• Fremont Multifamily Asset Sells for $19.5 Mil
12/09/20
Niles Station, a 94-unit multifamily property in the East Bay city of Fremont, was purchased by Riaz Capital in a $19.5 mil ($207.5k/unit) deal. Riaz is an experienced developer and operator of multifamily apartment buildings...
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• MBK Rental Living Completes 330-Unit Res Project in Menifee
12/09/20
MBK Rental Living has completed work on Artesa at Menifee Town Center, a 330-unit luxury apartment community located in the heart of a master-planned community in Menifee. The development, built by R.D. Olson Construction, wa...
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• Multifamily Complex in Bermuda Dunes Goes for $33.6 Mil
12/08/20
A SoCal investment group paid $33.6 mil for Medici Apartment Homes, a 140-unit ($240k/unit) community located in Bermuda Dunes. Built in 2002, the property is located on 79090 42nd Ave, south of I-10 and west of Jefferson St....
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• Presidio Residential Capital to Develop 296-Unit Res Neighborhood in SLO’s San Luis Ranch Area
12/08/20
Presidio Residential Capital plans to develop a multifamily neighborhood called The Orchard in the highly anticipated San Luis Ranch mixed-use development in southwest San Luis Obispo. The community will consist of three proj...
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• Oakmont Properties Buys Sacramento Multifamily Property in $92 Mil Deal
12/07/20
Oakmont Properties has acquired Alira Luxury Apartments, a 293-unit apartment community in the Natomas submarket of Sacramento, for $92.3 mil, or $315k/unit. The property was sold by AG Spanos Companies in an off-market trans...
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• The Related Group Gets Underway with New 286-Unit Res Project in Scottsdale
12/07/20
The Related Group has started work on The Manor Scottsdale, a new 286-unit multi-family development in Scottsdale, AZ. McShane Construction Company is providing construction services for the development, slated for completion...
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• Jay Paul Co Acquires New Luxury Bay Area Res Development in $73.5 Mil Deal
12/04/20
Jay Paul Co has purchased Encore, a new 90-unit luxury community in downtown Redwood City. Encore was built and sold by Sares Regis Group of Northern California and its affiliate companies in a $73.5 mil ($817k/unit) transact...
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• Apartment Building in Ramona Purchased for Over $8 Mil
12/04/20
A 38-unit complex in the SoCal city of Ramona sold for $8.27 mil, or $217.6k/unit. The 36.2k sf property is situated on a 230k sf lot located at 1551 Montecito Rd, east of I-15 and just north of Main St in northeast San Diego...
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