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• Residential Development Site in Westchester Sells for $105/sf
7/22/20
An 85.8k sf development site in Westchester sold for $9 mil, or $105/sf. The property, zoned LAR2-1, is located at 8333 Airport Blvd, north of Manchester Ave and west of the 405 Fwy.
The property is centrally located, minute...
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• Local Investors Trade San Gabriel Multifamily Property in $14.7 Mil Deal
7/17/20
A local investor paid $14.7 mil for Coral Reef, a 62-unit ($237k/unit) multifamily property in San Gabriel. The property, located at 5730 N. Willard Ave, was originally built in 1963 and sits on a 1.55-acre lot.
The 39k sf p...
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• Omninet Capital Wraps Up $32 Mil Res Buy in L.A.’s Koreatown
7/16/20
Omninet Capital closed on the purchase of a 72-unit multifamily property in L.A.’s Koreatown area in a recent $32.4 mil ($450k/unit) deal. Located at 535 S. Kingsley Drive, the property is referred to as “The Maya Apartments”...
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• Advanced Real Estate Services Spends $26 Mil on 120-Unit Res Asset in Riverside
7/16/20
Advanced Real Estate Services Inc (ARES) has been busy during the past four months, having acquired a new multifamily asset while also completing refi loans on five others along with forming a new investment fund.
In Riversi...
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• Redondo Beach Apartment Building Goes for Over $500k/Unit
7/15/20
An 18-unit apartment property in Redondo Beach has sold for $9.35 mil ($519k/unit). The property is located at 2106 Manhattan Beach Blvd, a few blocks west of the 405 Fwy.
The building is comprised of all two-bedroom/one-ba...
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• Pulte Homes Buys 11 Acres on the San Francisco Peninsula
7/15/20
Pulte Homes purchased 11 acres of land positioned between San Francisco and Silicon Valley for redevelopment into a residential neighborhood of 190 homes. The property was sold by Strada Investment Group in a deal we’ve been ...
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• Kennedy Wilson and Fairfax Financial Holdings Acquire $63 Mil Loan on CO Res Community
7/13/20
Per a press release put out by Kennedy Wilson, the firm, along with Fairfax Financial Holdings Limited, has acquired a $63 mil loan for a newly constructed multifamily community in the Boulder, CO region. The senior bridge lo...
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• Second Quarter 2020 Comps on Eight Multifamily Sales in San Francisco
7/13/20
Here’s a rundown of eight San Francisco multifamily sales totaling $48 mil that closed in the second quarter of 2020. The deals, all brokered at least in part by Colliers International San Francisco pros James Devincenti, Bra...
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• 136-Unit Multifamily Asset in Bakersfield Sells for over $11 Mil
7/09/20
A SoCal-based private investor paid $11.07 mil for Village at Lakeside, a 136-unit ($81.4k/unit) affordable community in Bakersfield. Built in 1985, Village at Lakeside is located at 1718 Panama Lane, just east of Hwy 99.
Vi...
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• Two CA Multifamily Assets Land Freddie Mac Refi Loans Totaling $208 Mil
7/02/20
In recent residential refi transactions of note, we’ve got the scoop on two CA Freddie Ma property loans totaling about $208 mil. The deals, both arranged by NKF’s Multifamily Capital Markets team, were for assets at both end...
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• Eight-Unit Apartment Property in San Diego’s Pacific Beach Goes for $361k/Unit
6/30/20
The Thomas Avenue Apartments, an eight-unit residential complex in San Diego, sold for $2.885 mil ($361k/unit). The 5.7k sf property is situated on a 6.5k sf lot at 2121 Thomas Ave in Pacific Beach.
The Thomas Avenue Apartme...
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• SWENSON Completes Santa Cruz Mixed-User
6/29/20
SWENSON has completed construction of Nanda on Pacific, a 119.7k sf mixed-use community in Santa Cruz. Located at 1547 Pacific Ave, Nanda consists of 79 spacious studio, one- and two-bedroom apartment units (421 sf to 1.2k sf...
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• Riverside Multifamily Property Traded at $154k/Unit
6/26/20
Bel Air Apartments, a 16-unit multifamily property in Riverside, was acquired by a private buyer for $2.46 mil ($154k/unit).
Located at 3500-3530 Lou Ella Lane, Bel Air Apartments is comprised of eight one-bedroom/one-bathro...
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• Visalia Apartment Property Goes for $99k/Unit
6/26/20
Palm Apartments, a 29-unit community in Visalia, sold for $2.875 mil, or $99k/unit. The buyer was an unnamed public institution in the Central Valley.
Built on a .82-acre site in 1962, Palm Apartments is located at 1124 Sout...
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• MIG Real Estate LLC Buys One-Acre Res Dev Site in Denver
6/26/20
MIG Real Estate LLC has purchased a 1.04-acre development site in Denver, CO. MIG acquired the property from a private seller for $3.4 mil. The site is the first acquisition for MIG’s new Qualified Opportunity Zone Business F...
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• Anaheim Res Property Trades at $300k/Unit
6/25/20
Magnolia Court, a 21-unit multifamily property in Anaheim, was purchased by a private investor for $6.3 mil, or $300k per unit. Constructed in 1987, the property is located at 527-537 N. Magnolia, within three miles of three ...
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• Bay Area Res Portfolio Sold in $24.7 Mil Transaction
6/23/20
A 59-unit multifamily portfolio comprised of three adjacent buildings in Santa Clara was sold in a recent $24.7 mil ($418.6k/unit) transaction. The portfolio, which was acquired in an off-market transaction, is situated near ...
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• Summerhill Completes Pasadena Res Project
6/22/20
Theo, a new, 105-unit multifamily development in Pasadena, has opened to the public. The project, located at 289 N El Molino Ave, was developed by designed by KTGY Architecture + Planning and developed by Summerhill Apartment...
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• Two San Diego Mixed-Use Projects Trade in $45 Mil Transaction
6/22/20
Park & Polk and The Fort, two trophy mixed-use assets in San Diego, were sold in deal with a total price of around $45 mil. The assets, both designed and developed by renowned architect and developer Jonathan Segal, contain a...
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• Phoenix-Area Townhome Community Sells for $450k/Unit
6/19/20
Lyra Residences, an 18-unit luxury townhome rental community in Phoenix, traded for $8.11 mil, or $450.3k/unit. The property, located at 2950 N. 38th St, is comprised of two-story smart homes.
Lyra Residences is situated in...
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