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• One Santa Fe Res Community in L.A.’s Arts District is Sold
3/30/20
An unnamed Canadian institutional investor purchased One Santa Fe, a 438-unit, mixed-use, core-plus apartment community located in the Arts District of Los Angeles. It was sold by Berkshire Residential Investments. The price ...
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• Hines Picks Up 11 Acres in Phoenix for Luxury Res Development
3/26/20
Hines has acquired 11 acres of land in north Phoenix, on which the firm intends to develop a 325-unit luxury for-rent residential property. The project is located at the northwest corner of Happy Valley Rd and 35th Ave.
The ...
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• L.A. Apartment Property from 1926 Sells for $414k/Unit
3/26/20
The Monroe Apartments & Bungalows, a two-building, eight-unit apartment property in Los Angeles, sold for $3.31 mil. The property is located at 4018 Monroe St, south of Santa Monica Blvd and just east of Virgil Ave, adjacent ...
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• Community Preservation Partners and L&M Development Partners Complete Work on 700-Unit Affordable Housing Redevelopment Project in San Jose
3/25/20
Community Preservation Partners (CPP) has completed work at the 700-unit El Rancho Verde multifamily community in San Jose, in what is the largest rehabilitation project in the affordable housing developer’s 16-year history. ...
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• Darwin German Real Estate Acquires 255-Unit TX Multifamily Asset
3/25/20
Darwin German Real Estate purchased Gold Creek Apartments, a 255-unit, Class A multifamily property in Dallas, TX. The deal was funded with $27.4 mil in debt and equity financing arranged by LA-based Nova Capital.
Built in 2...
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• Strong Demand Has MJW Investments Boosting New Fund to $500 Mil
3/25/20
MJW Investments is creating a $500 mil investment fund focused on value-add multifamily and student housing, co-GP/JV opportunities and distressed debt/note sales.
According to the company, the size of the fund has been inc...
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• Exchange Investor Sells and Buys Bay Area Apartment Properties in Deals Totaling $7.5 Mil
3/24/20
A private investor completed a 1031 exchange by selling one Bay Area multifamily property and buying another in separate deals totaling about $7.5 mil. The transactions were for an 18-unit property in Berkeley and a nine-unit...
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• Meta Housing Corporation and Western Community Housing Finish 33-Unit Affordable Housing Project in L.A.
3/24/20
Meta Housing Corporation and Western Community Housing Inc have completed work on Metro @ Western, a 33-unit transit-oriented, affordable apartment community in Los Angeles. The project offers a mix of one-, two-, and three-b...
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• Sares Regis Group Buys The Preston in L.A.'s Miracle Mile Neighborhood
3/23/20
Sares Regis Group purchased The Preston, a 169-unit multifamily community in Los Angeles’ Mid-Wilshire neighborhood. The acquisition was financed with $65 mil in first mortgage debt provided by Mesa West Capital.
The Preston...
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• Las Vegas Apartment Property Trades in $35 Mil Deal
3/20/20
Altura on Duneville, a 228-unit apartment project located in Las Vegas, has sold for $35.5 mil, or $155.7k/unit. It is located at 5050 Duneville St, within a few miles of the Las Vegas Strip in the Spring Valley submarket.
...
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• CGI Strategies Secures $47.8 Mil in Construction for Res Project in L.A.’s Koreatown
3/20/20
Los Angeles-based CGI Strategies has obtained $47.8 mil in construction money for the development of a 200-unit multifamily community in Los Angeles’ Koreatown neighborhood. The non-recourse loan was arranged by Dekel Capital...
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• Historic Building in San Diego’s Gaslamp District Acquired to be Converted into Residential over Commercial Space
3/19/20
A three-story, 7.5k sf commercial building in Downtown San Diego’s Gaslamp District sold for $1.85 mil, or $247/sf. The buyer, Evan Rundle, plans to convert the building for residential use with ground floor commercial.
The...
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• Long Beach Apartment Property Sells for $350k/Unit
3/17/20
An OC-based private investor paid $2.45 mil for a seven-unit apartment property in Long Beach. The property is located at 33 Nieto Ave in the city’s Belmont Shore submarket, just one block from the ocean.
Built in 1947, 33 N...
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• Apartment Building in L.A.’s Silverlake Neighborhood Sells for $355k/Unit
3/17/20
A five-unit apartment property in L.A.’s Silver Lake neighborhood sold for $1.775 mil, or $355k/unit. The property is located at 2264 Duane St, north of Sunset Blvd about midway between Silver Lake Blvd and the 2 Fwy.
The pr...
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• Champion Real Estate Company Spends $14 Mil on Student Housing Community
3/16/20
Champion Real Estate Company has acquired a 47-unit, potential 102-bed, student housing community in Los Angeles for $14.1 mil ($300k/unit). The property, located at 2353 Portland St, near the University of Southern Californi...
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• MG Properties Spends $65 Mil on Sacramento Multifamily Property
3/13/20
Landing at College Square, a 270-unit multifamily property in Sacramento, was purchased for $64.75 mil ($240k/unit) by MG Properties, out of San Diego. The property, located at 7640 West Stockton Way, was sold by Oakmont Prop...
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• Santa Barbara Student Housing Portfolio Lands $18.5 Mil in Financing
3/13/20
Los Angeles-based M&A Real Estate Partners has obtained an $18.5 mil loan for The Hive Isla Vista, a five-property student housing portfolio near the campus of University of California, Santa Barbara. CBRE’s Brad Wilmot arran...
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• MBK Rental Living Acquires Duarte Land for Res Development
3/12/20
MBK Rental Living acquired a 4.3-acre site in Duarte for development of a new 344-unit luxury apartment community in a joint venture with Haseko Corporation. The five-story, transit-oriented development, just steps away from ...
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• Bay Area Multifamily Asset Sells for $248 Mil
3/11/20
In an institutional-quality multifamily acquisition in the Bay Area, Acacia Capital Corporation purchased Park Hacienda, a 540-unit, garden-style apartment community within the Hacienda Business Park in Pleasanton. The asset ...
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• Corner Site in San Diego’s Little Italy Sells for Over $5 Mil
3/11/20
Icon Properties paid $5.15 mil for a 10k sf parcel in San Diego’s Little Italy neighborhood. The site is a prime corner location at 2102 India St. Icon plans to develop an upscale apartment community on the site.
Donald Hil...
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