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• R&V Management Buys 129-Res Property in San Diego’s Downtown Area
9/21/20
An affiliate of San Diego-based R&V Management has acquired AV8, a 129-unit multifamily property in the city’s Little Italy neighborhood. The purchase was financed with a loan of $43 mil.
Located at 2175 Kettner, AV8 was ori...
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• Sunrise Management Awarded Management Assignment for Historic San Diego Mixed-Use Properties
9/21/20
San Diego-based Sunrise Management has taken over day-to-day management of Park + Polk and The Fort – two high profile urban San Diego mixed-use projects that were purchased by A.L. Group LLC for $45.08 mil earlier this summe...
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• New Multifamily Development in L.A.’s Sawtelle Japantown Neighborhood is Fully Leased
9/21/20
The SW, an 88-unit multifamily development in L.A.’s Sawtelle Japantown neighborhood, is now fully leased. The project, a development of California Landmark Group (CLG), is located at the intersection of La Grange Ave and Saw...
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• Treehouse Communities Venture Lands $46 Mil in Financing on Manufactured Housing Portfolio
9/18/20
A joint venture partnership between an institutional investor and Treehouse Communities has obtained $46.44 mil in financing for a manufactured housing portfolio totaling 1,050 home sites within 17 manufactured home communiti...
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• Santa Monica Apartment Building Sells at $420k/Unit
9/18/20
A CA-based investment group paid $6.3 mil for Washington Place, a 15-unit ($420k/unit) apartment property located at 401 Washington Ave in Santa Monica. The deal closed at a cap rate of 3% and a gross rent multiplier of 21 o...
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• Long Beach Multifamily Sales Volume Down 50% for the First Half of 2020 Compared to 2019
9/17/20
This report was provided by Kidder Mathews
Multifamily transaction volume in Long Beach is way down, according to Kidder Mathews September 2020 Multifamily Market Update. The total sales volume for the first half of 2019 was...
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• Newest Res Project at Sudberry’s Civita Campus in Mission Valley is Completed
9/16/20
Purl, the newest project at Sudberry Properties’ 230-acre Civita urban village in Mission Valley, has been completed and is now leasing units to tenants. The development, located at 7901 Civita Blvd, is comprised of 434 luxur...
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• Multifamily Property Covering an Entire Block in Compton Sells for $11.5 Mil
9/14/20
A private investor purchased a property comprising 11 six-unit buildings on nine contiguous lots that span an entire block in Compton. The property, located at 1501-1701 East Kay St, north of Rosecrans Ave and east of Long Be...
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• Buchanan Street Partners Closes on 276-Unit Res Buy in Colorado
9/14/20
Buchanan Street Partners has acquired The Vibe, a 276-unit multifamily community in Fort Collins, CO. The property, built in 2018, was sold by Milestone Development Group in a $74 mil ($268k/unit) transaction.
The Vibe, con...
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• Advanced Real Estate Services Secures $240 Mil in Refi Money on Six SoCal Multifamily Assets
9/14/20
Advanced Real Estate Services Inc has completed $240.44 mil in refinancings on six SoCal multifamily communities totaling 1,223 units. The Freddie Mac and Fannie Mae financings were arranged by NorthMarq Capital and generated...
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• Carson Multifamily Community Opens to the Public
9/11/20
A new, 300-unit multifamily community in Carson has just been completed and opened to the public. The project, Evolve South Bay, offers 11 spacious floor plans ranging in size from approximately 695 sf to 1.2k sf., is a devel...
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• Brandywine Homes Buys OC Dev Site
9/11/20
Brandywine Homes picked up a multifamily development infill site in Placentia for $3.9 mil. The 1.3-acre parcel is located at 1049 Golden Ave, near the intersection of Imperial Hwy and Rose Dr.
The buyer, who obtained the e...
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• Low Income Housing Complex in Needles Trades for $28k per Unit
9/11/20
An 81-unit, low-income housing property in the city of Needles sold for $2.25 mil, or $28k per unit. The property, River Garden Apartments, has rent restrictions in place.
Located at 1970 Clary Dr, River Garden Apartments is...
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• Work Started on 276-Unit AZ Res Community
9/10/20
Continental Properties has begun work on Springs at Cooley Station, a 276-unit residential community in Gilbert, AZ. The development is being built by McShane Construction Company, in the 20th Springs project between the two ...
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• Freddie Mac Auctioning $534 Mil of Seasoned Non-Performing Residential First Lien Loans
9/09/20
Freddie Mac is auctioning $534 mil of seasoned non-performing residential first lien loans held in Freddie Mac’s mortgage-related investments portfolio. The NPLs are currently serviced by Specialized Loan Servicing LLC.
The ...
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• Lowe Property Group Breaks Ground on 284k sf Mixed-Use Project in Downtown Salt Lake City
9/09/20
Lowe Property Group has broken ground on 6th & Main, a 284k sf mixed-use development in the heart of downtown Salt Lake City. The eight-story structure will include 10.1k sf of commercial space and 141.1k sf of residential ap...
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• North Hollywood Apartment Comp Comes in at $219k/Unit
9/07/20
A 16-unit apartment property in North Hollywood sold for $3.5 mil, or $219k per unit. The property is located at 11557-11565 Erwin St, just east of Lankershim Blvd.
The property was built in 1958 and is subject to rent contr...
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• NoCal Multifamily Community Trades for $78.5k/Unit
9/04/20
Spring Mountain, a 184-unit residential community in Corning, CA, traded hands in a recent $14.45 mil ($78.5k/unit) transaction. Built in 1986, the property is located at 240 Edith Ave, off I-5 roughly 115 miles north of Sacr...
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• Bold Partners Acquires Value-Add Res Property in West Hollywood for $378k/Unit
9/04/20
Los Angeles-based Bold Partners paid $3.025 mil for an eight-unit ($378k/unit), value-add apartment property property in West Hollywood. The asset, located at 1237 N. Orange Grove, just east of Fairfax Ave between Santa Monic...
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• OC Res Property Goes for $184k/Unit
9/02/20
The Standard Apartments, a 24-unit community in Santa Ana, traded hands for $4.425 mil ($184k/unit) in a recent transaction with multiple offers.
Built in 1958, The Standard Apartments sits on a 15.9k sf site at 931 and 935 ...
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