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• Tower 16 Capital Partners and HG Capital Pay $65k/Unit for Phoenix Res Property
12/31/19
San Diego-based Tower 16 Capital Partners, in partnership with HG Capital, has acquired Lilly Garden Apartments, a 180-unit multifamily project in Phoenix. The property was acquired on an off-market basis from a private selle...
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• Seattle Multifamily Property Sells for $467k/Unit
12/30/19
East Highland Apartments, a 12-unit multifamily property located in the vibrant north end of Capitol Hill in Seattle, sold for $5.6 mil. The deal worked out to $467k per unit and $617 per net rentable square foot.
East Highl...
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• Shamrock Acquisitions Lands $69 Mil in Construction Money for Merced Housing Development
12/30/19
Shamrock Acquisitions LLC has obtained $68.75 mil in construction financing for an 885-bed student housing development in Merced, CA. The funding was provided by an affiliate of Mosaic Real Estate Credit (MREC).
The 270-unit...
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• Community Preservation Partners Acquires 158-Unit Affordable Housing Property in West Covina
12/30/19
Community Preservation Partners (CPP) has purchased Cameron Park Apartments, a 158-unit, affordable housing complex located at 929 West Cameron Ave in West Covina, for $52 mil ($329k/unit). The acquisition deal includes nearl...
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• MG Properties Group Spends $305 Mil on Res Communities in OR and WA
12/26/19
MG Properties Group has purchased two multifamily communities in deals totaling $305 mil. The acquisitions consist of the 566-unit Pallas Apartments in Beaverton, OR and the 383-unit Tivalli Apartments in Lynnwood, WA. With t...
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• Newly Constructed AZ Res Community Trades for $96 Mil
12/24/19
Alta Drinkwater, a 277-unitmultifamily community in downtown Scottsdale, was acquired by Starwood Real Estate Income Trust Inc ("SREIT"), a nontraded REIT managed by Starwood Capital Group, for $96.15 mil ($347k/unit). The pr...
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• Mobile Home Community in North San Diego County Trades for $8.6 Mil
12/23/19
Hilltop Mobile Home Park, a 22-space mobile home park property in North San Diego County, sold for $8.6 mil. The property is located on a 1.14-acre parcel at 155 West Jason Street in Encinitas.
Ciara Trujillo of Colliers Int...
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• Kennedy Wilson Boosts Multifamily Portfolio by over 1,000 Units
12/23/19
Kennedy Wilson acquired five multifamily properties totaling 1008 units in an off-market transaction with a total price of $342 mil ($339k/unit). The assets were acquired by various investment vehicles managed by Kennedy Wils...
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• Phoenix Res Community Trades for $31 Mil
12/23/19
Revival Biltmore, a 258-unit apartment community in Phoenix, sold for $31.25 mil, or $121k/unit, in an all-cash transaction.
Units at Revival Biltmore include efficiency, studio, one-bedroom and two-bedroom plans. The apartm...
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• DB Capital Management Spends $249k/Unit for OR Res Community
12/20/19
Terra Murrayhill, a 137-unit, garden-style apartment community located in Beaverton, OR, sold for $34.1 mil ($249k/unit). It was purchased by DB Capital Management.
Terra Murrayhill, which sits on approximately nine acres at...
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• L.A. Area Multifamily Portfolio Financed with $35.6 Mil in Fannie Mae Money
12/19/19
Berkadia arranged $35.6 mil in financing, including an $18.1 mil cash out, on a 10-property, 305-unit multifamily portfolio in the Los Angeles area. The properties are located in Los Angeles, Santa Monica and the San Fernando...
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• CGI Strategies Starts Work on 200-Unit Res Project in L.A.’s Koreatown
12/19/19
CGI Strategies has started construction on Fedora, a 200-unit apartment community in the heart of Los Angeles’ Koreatown. The project, located at 837 S. Fedora, spans across the block to the adjacent street, at 838 S. Maripos...
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• Costa Mesa Apartment Community Sells for $473k/Unit
12/18/19
Baker Block, a 240-unit multifamily property in Costa Mesa, has changed hands in a recent transaction worth $113.5 mil, or $473k/unit. The recently completed project was acquired by Baker Block Associates LP in a deal we’re t...
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• Affordable Housing Property in Seattle’s Downtown Sells for $146k/Unit
12/18/19
Cadence Real Estate paid $13 mil for The Lowman Building, an 89-unit ($146k/unit) affordable housing property in Seattle. The property is located at 107 Cherry St, west of I-5 between downtown and Pioneer Square.
Built in 19...
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• Local Buyer Pays $382k/Unit for Hollywood Apartment Property
12/18/19
Gramercy Hollywood, a 28-unit apartment property located at 1836 N. Gramercy Place in one of the most coveted neighborhoods of Hollywood, sold for $10.7 mil, or $382k/unit. The deal closed at a 4.3% cap rate.
The property re...
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• Wiseman Residential Pays $13.75 Mil for Entitled Multifamily Dev Site in West Los Angeles
12/16/19
Wiseman Residential paid $13.75 mil for a former gas station and parking lot property located at 11261 Santa Monica Blvd in Los Angeles. The property was sold by BLT Enterprises, who, with the help of their architects at KFA,...
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• Hines to Break Ground on Luxury Multifamily Development in Phoenix
12/16/19
Hines will break ground on Adeline, a new downtown Phoenix luxury multifamily complex, next month, in January 2020. The development represents the firm’s first multifamily property in the Phoenix market.
The new 25-story, 37...
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• Res Asset in San Diego’s UTC Submarket Goes for $375k/Unit
12/16/19
Mark Gosselin, president of Property West Residential Inc, paid $22.5 mil for La Jolla Park West, a 60-unit ($375k/unit) multifamily property located in San Diego. The asset, situated in San Diego’s highly coveted University ...
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• Vibrant Cities Obtains $43.5 Mil for Construction of Seattle Luxury Res Project
12/13/19
Vibrant Cities has secured $43.5 mil for the development of Infinity Shore Club Residences, a 40-unit, luxury, for-sale residential project in the desirable Alki Beach neighborhood of Seattle, WA. The financing was arranged b...
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• Seattle Development Site Goes for $261/sf for Land Value
12/12/19
A 12.2k sf development site in Seattle’s growing Greenwood neighborhood sold for $3.2 mil, or $261/sf for the land.
The corner site, located at 425 N 85th St, is zoned Neighborhood Commercial 2 and allows for buildings up t...
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