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• Leon Capital Group Readying to Start Work on 202-Unit Upscale Res Project in Scottsdale
6/18/20
Leon Capital Group is preparing to start work on Kierland Apartments, a 202-unit luxury multi-family community in Scottsdale, AZ. The development will include 9.5k sf of amenity space and high-end finishes, providing resident...
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• Multifamily Building in L.A.’s Koreatown Sells for $289k/Unit
6/18/20
A newly renovated, 14-unit multifamily building in the Koreatown submarket of Los Angeles sold for $4.05 mil, or $289k/unit. The property is located at 453 S. Gramercy Place, just north of Wilshire Blvd and west of Western Av...
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• El Cajon Multifamily Property Trades in $16 Mil Deal
6/18/20
GLC Legacy Trust paid $16.3 mil for Tribecca on Mollison, a 68-unit ($239.7k/unit) complex located in the El Cajon area of San Diego. The 57k sf property sits on on 2.84 acres at 520 S. Mollison, south of I-8 and west of Jama...
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• Pacific Beach Apartment Building Goes for $662k/Unit
6/16/20
A four-unit apartment property in San Diego’s Pacific Beach neighborhood sold for $2.65 mil, or $662.5k/unit. The 5.2k sf property is situated on a 6.2k sf lot at 1050-1056 Diamond St.
Built in 1992, the property is just thr...
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• SoCal Investors Trade 33-Unit Res Asset in El Cajon
6/15/20
Willow Creek, a 33-unit apartment community in El Cajon, traded in a deal worth $8.55 mil, or $259k/unit. Built in 1987, Willow Creek is located at 8410 Los Coches Rd, adjacent to the west side of I-8.
Willow Creek is a thre...
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• Los Angeles Investor Group Spends $12.8 Mil on 173-Unit AZ Res Property
6/12/20
A Los Angeles-based private investment entity closed on a multifamily buy in Phoenix, paying $12.8 mil for Ocotillo Apartments, a 173-unit apartment community located at 1780 West Missouri Ave, north of Camelback Rd and east ...
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• San Gabriel Valley Multifamily Asset Trades in $8.9 Mil Deal
6/12/20
Starcrest Apartments, a 28-unit multifamily apartment property in Arcadia, was purchased for $8.9 mil ($318k/unit) by an unidentified local investor. Located at 942-944 Arcadia Ave, south of Huntington Dr and east of Rosemead...
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• Bay Area Multifamily Property Refinanced with $33 Mil in Fannie Mae Money
6/11/20
Sausalito Investments has obtained a $33 mil refi loan on Sausalito Towers, a 90-unit multifamily property it owns in the northern Bay Area city of Sausalito. The Fannie Mae Delegated Underwriting and Servicing (DUS®) loan w...
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• Greenlight Communities Secures $23 Mil in Financing for Phoenix Res Development
6/11/20
Greenlight Communities has obtained $22.9 mil in financing for the development of Cabana on 99th, a 286-unit, garden-style multi-housing project in Phoenix’s Glendale submarket. The financing, arranged by Bryan Clark, Brad Mi...
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• Meta Housing Starts Work on Affordable Housing Project in Downtown L.A.
6/10/20
Meta Housing has broken ground on Lamp Lodge, an 82-unit affordable housing community in Downtown Los Angeles. Located at 660 Stanford Ave, the seven-story, contemporary-style building will provide an affordable housing solut...
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• Virtú Investments Buys 204-Unit OR Multifamily Asset
6/10/20
Virtú Investments has acquired Modera Davis, a 204-unit, luxury high-end residential community located in Portland’s Pearl District. The price was not disclosed.
Modera Davis is located at 215 NW 10th St within the affluent ...
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• Hines and MetLife Investment Management Start Work on Res Project in Concord
6/09/20
Hines and MetLife Investment Management have begun construction of The Grant, a 228-unit mixed-use complex in the Bay Area city of Concord. The upscale project, spanning two adjacent blocks in the city’s downtown, is convenie...
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• Wealhouse Capital Management and Western Wealth Capital Land $185 Mil Refinancing on AZ Res Portfolio
6/08/20
A venture between Wealhouse Capital Management and Western Wealth Capital has secured $185.63 mil in refi money on a 1,439-unit Arizona multifamily portfolio. The collateral consists of five properties in the Phoenix area.
J...
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• Prometheus Real Estate Acquires Silicon Valley Res Asset
6/04/20
Prometheus Real Estate has closed on a sizable Silicon Valley multifamily acquisition, paying about $70 mil for Gardens of Fontainbleu, a 125-unit ($560k/unit) complex in Cupertino. The property is located at located at 10200...
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• San Gabriel Apartment Building Gets New Owner in $5 Mil Deal
6/03/20
A 13-unit apartment property in the city of San Gabriel was acquired by a private buyer for $5.1 mil, or $392k/unit. The asset was sold by a local family office looking to trade into triple-net, single-tenant assets out of st...
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• Coastal Carlsbad Res Building Sells for $383k/Unit
6/02/20
Maple Polynesian Apartments, a 6-unit residential complex in Carlsbad, was purchased by LA Mer Properties LP for $2.3 mil ($383k/unit). The 3.6k sf property is located at 137 Maple Ave, just a few doors east of Carlsbad Blvd ...
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• Forge Development Partners to Transform Underutilized San Francisco Property into Workforce Housing
6/02/20
Forge Development Partners (Forge) has formed a venture with Fifth Church of Christ, Scientist to transform the underutilized Church property at 450 O’Farrell St in San Francisco into a 310-unit, high-tech rental home communi...
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• Burbank Development Site Trades in $40 Mil Deal
6/01/20
An eight-acre development parcel in the city of Burbank traded hands in a $40 mil transaction. The site is located at 777 Front St, on the south side of Burbank Blvd in the city’s downtown, and offers over 1,100 feet of front...
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• Investor Spends $340k/Unit for Hollywood Hills Apartment Building
6/01/20
A Beverly Hills-based private investor paid $1.7 mil for a lender-owned, five-unit ($340k/unit) apartment property in the Hollywood Hills. The property is located at 1954 Argyle Ave, north of Franklin Ave on the east side of ...
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• Local Investor Spends $26.8 Mil on Bay Area Multifamily Asset
5/29/20
The Lakes, a 102-unit value-add multifamily community in the Bay Area city of Concord, was acquired by an Atherton-based family investment group in a $26.8 mil transaction, which works out to around $263k/unit.
Originally c...
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