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• Palm Desert Multifamily Property Sells for $222k/Unit
5/17/24
Ariana at El Paseo, a 63-unit multifamily property in Palm Desert, CA, was purchased by Investment Concepts Inc for $14 mil ($222.2k/unit). The property is located at 45278 Deep Canyon Rd, east of Hwy 74 and just south of Hwy...
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• GMD Development and WNC & Associates to Build 182-Unit Affordable Housing Project in Seattle
5/16/24
GMD Development and WNC & Associates are set to begin construction on Victory Northgate, a new six-story affordable housing development in north Seattle. Victory Northgate is scheduled for completion in April 2026.
The de...
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• Rockefeller Group Starts Work on Two Build-to-Rent Communities in Phoenix
5/15/24
Rockefeller Group has broken ground on Corsica Villas, two build-to-rent (BTR) communities totaling 152 townhomes in South Phoenix, the company’s first BTR communities in Arizona. Rockefeller Group has selected Mosaic, the na...
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• Laguna Beach Apartment Property Sells for $841k/Unit
5/15/24
A seven-unit multifamily property in downtown Laguna Beach was purchased by a private investor for $5.89 mil. The deal works out to a price of $1,275 per square foot and $841.4k per unit, making it one of the highest prices p...
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• Time Equities Inc Buys 145-Unit Student Housing Asset in Huntsville, TX
5/14/24
Time Equities Inc has acquired The Armory, a student housing property located near Sam Houston State University (SHSU) in Huntsville, TX. The property, which features 145 units and 502 beds, was sold by Stonemont Financial, a...
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• Bell Partners Completes $146 Mil Res Buy in the Inland Empire
5/14/24
Bell Partners has acquired Silverado Apartment Homes, a 492-unit apartment community located in Murrieta, CA, in a $146.5 mil ($298k/unit) transaction. The community, which was acquired on behalf of the company’s Value Add Fu...
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• Hines and Trez Capital Start Work on 600-Acre Master-Planned Community in Texas
5/14/24
Hines and Trez Capital have broken ground on Northspur, a 700-acre master-planned community located east of Dallas in the city of Terrell, TX. Northspur will consist of approximately 1,500 single-family homes with a variety o...
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• Hines and Clearwater Living Senior Housing Fund V Team Up with an Institutional Partner to Recapitalize and Rebrand a Luxury Senior Living Facility in Houston
5/13/24
Hines, Clearwater Living Senior Housing Fund V (a Clearwater Living investment vehicle) and an institutional investor have formed a joint venture to successfully recapitalize and rebrand Clearwater at The Heights in Houston. ...
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• Unique Irvine Investment/Development Site Put on the Market
5/10/24
We’ve just learned of a 3.73-acre office/data center mixed-use property in Irvine that has been put on the market. The property, located at 2525 Main St, is currently improved with 104.4k sf of office space, 38.9k sf of data ...
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• Millburn & Company Pays $243k/Unit for Newly Constructed AZ Res Community
5/10/24
Millburn & Company purchased Parc Tolleson, a 258-unit Class A multifamily community in Tolleson, AZ, in a recent $62.75 mil ($243k/unit) transaction. The property was sold by Evergreen Devco Inc.
Completed in 2023, the gard...
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• WNC & Associates Closes $300 Mil Equity Fund
5/10/24
WNC & Associates has closed WNC Institutional Tax Credit Fund 56, L.P. (Fund 56) which includes 24 multi-family properties across 16 states. Fund 56, a $302 mil equity fund that closed in April 2024, is WNC’s largest multi-in...
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• Two Seattle Residential Assets Land New Financing in Deals Totaling $14.5 Mil
5/09/24
Two Seattle multifamily properties secured new financing in separate permanent loan transactions totaling $14.5 mil. Both deals were arranged by Mike Wood and Colin Ceithaml with Gantry for different private investor borrower...
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• JPI Picks Up Site at Mosaic Redevelopment Project in Downtown Long Beach
5/09/24
JPI acquired a 1.58-acre portion of the Mosaic redevelopment site in downtown Long Beach. The parcel, bound by Long Beach Blvd, 4th St, The Promenade North, and 5th St, is entitled for 272 units of Class A luxury for-rent apa...
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• Investors Snap up Costa Mesa Apartment Properties
5/08/24
We’ve got three recent multifamily property comps from Costa Mesa to share with you. The transactions totaled 13 units with a combined price of $7.42 mil.
In one deal, a six-unit property at 2666 Orange Ave sold for $3.235 m...
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• AAA Management Lands $78 Mil in Construction Money for 251-Unit San Diego Res Development
5/07/24
San Diego-based AAA Management has obtained $78.5 mil in construction financing for Ion Clairemont, a 251-unit, mid-rise multifamily development in San Diego’s Kearny Mesa area. The project, located at 8333 Clairemont Mesa Bl...
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• Community Preservation Partners Acquires 14-Unit Housing Asset in the San Fernando Valley
5/03/24
Community Preservation Partners has acquired Canoga Park Apartments, an affordable housing development in the western San Fernando Valley. This is the fifth community in the greater Los Angeles area for CPP and the 60th in th...
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• Phoenix Dev Site Goes for $13 Mil
5/02/24
Scottsdale-based Aspirant Development purchased a 3.29-acre land parcel in downtown Phoenix for $13 mil ($91/sf). The parcel, located at 1500 N. Central Ave, is planned for the development of a 25-story res tower.
The planne...
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• Galveston, TX Luxury Condo Project to Move Forward with $100 Mil in Construction Money
5/02/24
Satya has secured $100 mil in construction money for construction of Tiara on The Beach, a 63-unit condo project in Galveston, TX. The loan is being funded through International Bank of Commerce. The 10-story development repr...
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• Riverside Res Property Sells for $228k/Unit
5/01/24
Potomac Apartments, a 34-unit multifamily property in Riverside, traded hands in a recent $7.75 mil ($228k/unit) transaction.
Located 1.5 miles from California Baptist University, the property features studio, one- and two-b...
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• Workforce Housing Project in Central Maui Opens to the Public
5/01/24
Kaulana Mahina Apartments, a 324-unit community in the Central Maui community of Wailuku, Hawai’I, has been completed and is now open to the public. The residential project is a development of Legacy Partners and AFL-CIO Bui...
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