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• Anthem Development Lands $63 Mil in Joint Venture Equity and Debt for TX Res Development
2/01/23
Anthem Development has obtained $63 mil of joint venture equity and debt for the acquisition and development of Lofts iThirty, a planned 340-unit luxury multifamily property located on 10.4 acres at the Northwest corner of Br...
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• Leasehold Interest in Whittier Multifamily Community Goes for Almost $50 Mil
1/31/23
NextGen Properties Group purchased the leasehold interest for Alivia Apartments, a 128-unit multifamily property in Whittier, in a recent $49.625 mil ($387.7k/unit) transaction. The property, located at 11201 Carmenita Rd, wa...
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• Basis Investment Group Becomes Equity Partner in Santa Monica Development Site Portfolio
1/30/23
Tishman Speyer has secured the Basis Investment Group (BIG) as an equity partner in the Santa Monica Collection, its portfolio consisting of eight development sites across nearly 3.1 acres in Downtown Santa Monica.
A certi...
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• Avanath Closes on $205 Mil in Additional Equity Commitments for Affordable Housing Fund
1/30/23
Avanath Capital Management LLC has closed on more than $205 mil in additional equity commitments to the Avanath Affordable Housing Renaissance Fund (the “Fund”) since November. Avanath is a multifamily owner and operator that...
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• Trion Properties Spends $23.6 Mil on Sacramento Multifamily Property
1/25/23
In a recent Sacramento res buy, Trion Properties paid $23.6 mil for Courtyard at Artisan Square, a 104-unit ($227/sf) community. The property is located at 1503 Fulton Ave, within the Arden-Arcade submarket.
Constructed in 1...
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• MG Properties Picks Up 312-Unit Res Community in Vegas for $81 Mil
1/20/23
MG Properties has acquired Tribeca North Apartment Homes, a 312-unit res community in North Las Vegas, for $81 mil ($260k/unit). The property is located at 3825 Craig Crossing Dr, east of Hwy 95 and north of the Vegas Strip.
...
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• Redondo Beach Apartment Building Fetches $520k/Unit
1/20/23
A 10-unit, garden-style multifamily property in Redondo Beach sold for $5.2 mil, or $520k/unit. The property is located at 124-128 Palos Verdes Blvd in the Hollywood Riviera section of Redondo Beach.
Built in 1958, the prope...
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• West Covina Res Property Sells for $450k/Unit
1/19/23
South Hills Apartments, an 85-unit apartment property in West Covina, was purchased for $38.25 mil ($450k/unit) by HFH Ltd, a 1031 exchange buyer.
Built in 1966 on five-plus acres and remodeled in 2019, South Hills Apartment...
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• Valentino Properties Pays $500k/Unit for San Diego Apartment Building
1/19/23
Valentino Properties purchased an eight-unit, 5.8k sf multifamily property in San Diego area in a recent $4 mil ($500k/unit) transaction. The 100% occupied, recently renovated property is comprised of all one- and two-bedroom...
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• Commercial Real Estate Financing Briefs
1/17/23
IBORROW – iBorrow has provided a refi loan of $17.38 mil on two mid-renovation multifamily communities located in Southern California. The bridge loan will be used to refinance the borrower’s existing debt, while also providi...
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• Work Finished on 84-Unit Res Community in Portland’s Woodstock Neighborhood
1/16/23
Construction is now complete on Novus Apartments, a $24 mil, four-story, 84-unit, contemporary mixed-use community located in Portland’s Woodstock neighborhood. The project, developed by Portland-based Urban Asset Advisors an...
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• Tucson Res Development Lands $38.6 Mil in Construction Financing
1/16/23
Plans for Aerie Northwest, a 144-unit multifamily development in Northwest Tucson, are set to move forward after locking up $38.65 mil in construction money. The project is located at the Southeast corner of North La Cholla B...
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• SIM Real Estate Group Secures $32 Mil in Construction Money for AZ Res Project
1/12/23
Scottsdale-based SIM Real Estate Group has obtained $32.1 mil in construction financing for the development of Legacy at Laveen Village, a 172-unit Build-to-Rent (BTR) housing community located south of Southern Ave along 35t...
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• MBK Rental Living Acquires Site in Petaluma for Res Development
1/12/23
MBK Rental Living has purchased a 4.71-acre site in Petaluma, CA for development of a 134-unit, solar-powered luxury apartment project. The development, The Haven at Deer Creek will offer both three-story garden-style and thr...
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• JRK Property Holdings Initiates its Newly Closed $1 Bil Platform V Multifamily Fund with $168.5 Mil in Acquisitions
1/12/23
JRK Property Holdings has acquired Residences at Park Place, a 258-unit luxury mid-rise apartment and townhome community in the preeminent Kansas City suburb of Leawood, KS, from VanTrust Real Estate. JRK is also under contr...
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• Optima Spends $44.75 Mil on AZ Res Dev Site
1/10/23
Optima paid $44.75 mil for a 22-acre development site on the southeast corner of Scottsdale Rd and the Loop 101 freeway in Scottsdale, AZ. Chicago-based Optima is planning to build a new luxury mixed-use residential project n...
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• Fremont Multifamily Property Sells for $$27 Mil
1/06/23
Victoria Park, a 60-unit multifamily community located in the East Bay city of Fremont, traded hands in a recent $27.2 mil ($453k/unit) transaction.
Built in 1987, Victoria Park is located at 40882 High St. The property cont...
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• Golden Bee Properties Locks Up $21 Mil in New Loans on Two Res Portfolios
1/06/23
Golden Bee Properties has secured new financing on two multifamily portfolios. The assets consist of a combined 105 units and are located throughout Long Beach and Los Angeles.
Zalmi Klyne with Northmarq arranged the new fl...
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• $55 Mil San Fernando Valley Res Buys Consists of Three Properties Totaling 246 Units
1/05/23
A 246-unit, three-property res portfolio in the northern San Fernando Valley communities of Granada hills and Northridge traded hands in a $55.5 mil ($225.6k/unit) deal. The assets were sold by Upside Investments and purchase...
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• Avanath Capital Management Spends $131 Mil on 297-Unit Bay Area Affordable Housing Portfolio
1/05/23
Avanath Capital Management LLC has acquired the Novato Portfolio, comprising two LIHTC rental apartment properties totaling 297 units in the Bay Area submarket of Novato, for $131.5 mil ($443k/unit). Purchased with equity fro...
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