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• Tower 16 Capital Partners and Dune Real Estate Partners Close on 450-Unit Denver Area Res Buy
12/04/20
Tower 16 Capital Partners and Dune Real Estate Partners have teamed up in the purchase of Fairways at Lowry Apartments, a 450-unit multifamily project in Denver. The property was acquired from a private seller.
“The project...
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• Two Sacramento Multifamily Properties Refinanced in Transactions Totaling $42.6 Mil
12/03/20
Two Sacramento area multifamily properties were refinanced in separate loan transactions totaling $42.6 mil. The deals were arranged by Greystone Real Estate Advisors’ Todd Vitzthum, Simon Hermann and Cody Field on behalf of ...
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• West L.A. Multifamily Sale Comps at $356k per Unit
12/03/20
In a recent multifamily sales comp from L.A.’s Westside, an eight-unit property traded for $2.85 mil, or $356k per unit. The property, located at 1332 Wellesley Ave, south of Wilshire Blvd, north of Santa Monica Blvd, and wes...
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• PCCP and F&B Capital Buy 340-Unit AZ Multifamily Asset
12/03/20
A joint venture of PCCP and F&B Capital has acquired District at Chandler, a newly developed, 340-unit Class A multifamily asset in Chandler, AZ. Although a transaction value was not provided with this announcement, from what...
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• Tower 16 Capital Partners and Drake Real Estate Partners Close on 258-Unit AZ Res Buy
12/02/20
San Diego-based Tower 16 Capital Partners, in partnership with Drake Real Estate Partners, has acquired Sierra Vista Apartments, a 258-unit multifamily project in Tucson, AZ. The property was acquired from a private seller in...
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• Long Beach Apartment Building Trades in $2.4 Mil Transaction
12/02/20
An eight-unit apartment property in Long Beach sold for $2.4 mil, or $300k/unit. The closing cap rate was 5.6% and the gross rent multiplier was 12.3.
Built in 1986, the two-story building is located at 1066 Coronado Ave, in...
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• Sack Properties Spends $47.8 Mil on WA Res Property
12/01/20
Sack Properties purchased Chateau Woods, 114-unit apartment community in Woodinville, WA, in a $47.75 mil ($419k/unit) transaction. Chateau Woods was sold by BPM Real Estate.
Built in 2008, Chateau Woods is an “Energy Star ...
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• EPI Limited Partnership Wraps Up 300-Unit AZ Res Buy
11/30/20
EPI Limited Partnership has acquired Riata, a 300-unit, Class A multifamily community in Chandler, AZ. Although we don’t have the purchase price, we can tell you that the acquisition was financed with a loan for $43 mil.
Bui...
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• Glencrest Group Buys 106-Unit Multifamily Property in NoCal
11/25/20
Berkshire Laurel Creek, a 106-unit, garden-style multi-housing property in the northeastern San Francisco Bay Area, was acquired by Glencrest Group. The deal was financed with a $19.11 mil Freddie Mac loan.
Located at 2751 P...
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• Raintree Partners Buys SoCal Multifamily Portfolio for $142 Mil
11/24/20
Raintree Partners closed on the acquisition of the LAVVA Portfolio (Los Angeles & Ventura Value Add Portfolio) in a $142 mil transaction. The sale, consisting of five properties totaling 551 units in Canoga Park, Camarillo, ...
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• Trammell Crow Residential Breaks Ground on Luxury Res Tower in Downtown San Diego’s Little Italy Neighborhood
11/24/20
The Southern California division of Trammell Crow Residential (TCR) is breaking ground on construction of Simone, a luxury, 36-story high-rise in San Diego’s Little Italy neighborhood. The development will consist of 358 mark...
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• Local Investors Trade 32-Unit Res Property in Orange for $11.5 Mil
11/23/20
Batavia Gardens, a 32-unit multifamily community in the city of Orange, was purchased for $11.5 mil ($359.4k/unit) by a local 1031-exchange investor. The seller was also a local investor.
The multifamily property sits on 1.8...
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• Hines’ Mixed-Use Redevelopment of Riverwalk Golf Course in Mission Valley Approved by San Diego City Council
11/23/20
Hines received unanimous approval on November 17 by the San Diego City Council for the firm’s Riverwalk San Diego project, which will transform the existing Riverwalk golf course in western Mission Valley into a 200-acre, liv...
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• Janone Development Starts Work on 39-Unit Res Project Adjacent ot L.A.’s Koreatown
11/20/20
Los Angeles-based Janone Development has begun work on a six-story, 39-unit apartment project in Los Angeles. The project is being financed with a $16.6 mil construction loan provided by Parkview Financial.
The development i...
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• MG Properties Group and Rockwood Capital Close $96 Mil Multifamily Buy in Camarillo
11/20/20
MG Properties Group and Rockwood Capital have acquired Las Positas Apartment Homes, a 213-unit multifamily community in Camarillo, for $95.75 mil, or about $450k/unit. The property, located at 352 Townsite Promenade, was sold...
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• Multifamily Property in the Southern San Fernando Valley Goes for $230k/Unit
11/18/20
Bechir Apartments, a 118-unit multifamily asset in the southwest San Fernando Valley community of Tarzana sold for $27.1 mil, or about $229.7k per unit. The property is close to U.S. Route 101, Ventura Boulevard, and the Metr...
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• VMG Properties Pays $14 Mil for Long Beach Apartment Portfolio
11/17/20
Santa Monica-based VMG Properties paid $14 mil for a portfolio of seven multifamily assets in Long Beach totaling 60 units ($233.3k/unit). The properties were sold by a local private investor who had owned the assets since th...
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• S2 Capital Pays $55 Mil for AZ Multifamily Community
11/17/20
Eagle Crest, a 408-unit multifamily asset located near the Arrowhead Ranch master-planned community in Glendale, AZ, was purchased by S2 Capital for $55 mil, or $134.8k/unit. The property was sold by a private family trust.
...
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• Cityview Starts Work on 123-Unit Res Project in L.A.’s Mid-Cities Area
11/16/20
Cityview has broken ground on a 123-unit mixed-use community adjacent to the Carthay Square neighborhood in Los Angeles’ Mid-Cities area. The seven-story, highly amenitized community, located at 5935 Pico Blvd, will include 1...
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• San Leandro Multifamily Property Sells for $262k/Unit
11/13/20
MC Investment Partners LLC acquired an 87-unit multifamily property in the Bay Area city of San Leandro for $22.8 mil, or $262k/unit. The property, located at 2199 Bancroft Ave, was sold by Pierron Properties LLC.
Built in 1...
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