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• AZ Multifamily Asset Sells for $162k/Unit
2/13/20
Riverview Park, a 69-unit apartment community in Mesa, AZ, sold for $11.2 mil ($162.3k/unit). The property is located at 745 North Dobson Rd, south of Sloan Park, the Chicago Cubs spring training stadium, and Mesa Riverview.
...
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• La Jolla Apartment Building Sells for $387k/Unit
2/12/20
In a multifamily sale comp from La Jolla, a private investor paid $3.1 mil for an eight-unit ($387.5k/unit) apartment community. Located at 7342 Girard Ave, the 4k sf property was originally built in 1954 and is comprised of ...
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• Cushman & Wakefield Awarded Office Leasing Assignment for Sacramento Mega-Development
2/12/20
LDK Ventures has retained Cushman & Wakefield to provide office leasing services for The Railyards, a prominent new mixed-use development project located along the Sacramento Riverfront in Downtown Sacramento. The mega projec...
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• Cerritos Multifamily Asset Trades in $49 Mil Deal
2/12/20
Four Trees, a 150-unit apartment property in Cerritos, was purchased for $48.6 mil ($324k/unit) by Palos Verdes Management Company LP. The asset was sold by a partnership of local investors.
Located at 18427 Studebaker Rd, t...
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• Riverside Residential Building Goes for $153k/Unit
2/11/20
A 15-unit apartment complex in Riverside sold for $2.3 mil, or $153.3k/unit). The property, known as Kansas Apartments, is located 3332 Kansas Ave and totals 14.1k sf.
The building features 15 units that are fully leased wi...
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• Next Wave Investors Closes $14.5 Mil Vegas Res Buy
2/10/20
In a recent multifamily buy in Las Vegas, Next Wave Investors LLC paid $14.5 mil for Villaggio Di Murano, an 88-unit ($164.8k/unit) multifamily apartment community. The SoCal-based multifamily investment group acquired the pr...
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• Affordable Housing Developer Buys Santa Monica Apartment Property
2/07/20
A 40-unit apartment community situated on about 1.47 acres of land in Santa Monica was acquired by an unnamed affordable housing developer in a recent transaction valued at $13.7 mil $342.5k/unit. It was sold by a family trus...
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• Trion Properties Makes 61-Unit Res Buy in San Leandro
2/07/20
Trion Properties has purchased Cedar Grove, a 61-unit multifamily community located in San Leandro, for $15 mil, or $246k/unit. Built in 1959, the property is located at 1200 Davis St, a few blocks east of I-880.
Cedar Grove...
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• Sea Breeze Properties Starts Work on Torrey Highlands Mixed-User
2/06/20
Sea Breeze Properties has broken ground on MERGE 56, a 40-acre mixed-use development in San Diego’s Torrey Highlands area. Adjacent to State Route 56 at Camino Del Sur, MERGE 56 will be comprised of approximately 450k sf of C...
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• Sherman Oaks Apartment Property Sells for $455k/Unit
2/06/20
H & R Investments LP paid $9.1 mil, or $455k/unit, for a 20-unit multifamily property in Sherman Oaks. The property, located at 15323 Weddington St, was sold by The Rubino Trust.
The property was sold by a family entity tha...
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• Vista Investment Group Acquires Two L.A. Area Multifamily Properties
2/06/20
Vista Investment Group has picked up multifamily properties in Koreatown and Hollywood, the first two assets in a $50 mil portfolio acquisition of four Los Angeles area rent-controlled apartment communities totaling 167 units...
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• Work Finished on Second Res Building at 9th & Colorado Project in Denver
2/05/20
Construction of Milo, an eight-story, 319-unit apartment community in Denver, has been completed. The building represents the second residential phase at 9th & Colorado, a 26-acre urban infill project being developed by CIM G...
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• Temecula Mixed-Use Property Gets New Owner in $8.8 Mil Deal
2/05/20
Front Street Plaza, a mixed-use residential and commercial property Temecula, was purchased for $8.8 mil by a private investor. Located at 28693 Old Town Front St, Front Street Plaza sits in the heart of the city.
The prope...
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• Mixed-Use Project in San Diego’s Hillcrest Neighborhood Gets Financing
2/05/20
Hillcrest 111, a seven-story, mixed-use project to be built in San Diego’s Hillcrest neighborhood, has been provided $43 mil in construction financing. The project, a development of a joint venture between Greystar and Cigna ...
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• Bluerock Real Estate Buys 254-Unit AZ Res Property
2/03/20
In an institutional-quality AZ Res buy, Bluerock Real Estate purchased Avenue 25, a 254-unit multifamily property in Phoenix’ Deer Valley submarket. The property, located at 18250 N. 25th Avenue, was sold by Millburn & Compan...
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• Construction Starts on Additional 75 Units at Sunnyvale Mixed-Use Development
1/30/20
Construction has begun on 75 new apartments at The Flats, bringing the number of homes at the luxury community in Downtown Sunnyvale to a total of 273. The 125k sf building will expand on The Flats’ existing, fully leased, 19...
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• PaulsCorp Purchases 464-Unit TX Res Community
1/30/20
Denver-based PaulsCorp LLC acquired The Morgan, a 464-unit multifamily community in Bedford, TX. The asset, located at 1611 Oak Creek Lane, was sold by Transwestern Investment Group (TIG®) and S2 Capital LLC.
TIG and S2 reno...
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• Long Beach Apartment Building Trades at 2.8% Cap Rate
1/29/20
A Los Angeles-based 1031 exchange buyer paid $4.75 mil for a 20-unit ($237.5k/unit) apartment property in Long Beach. The deal closed at a 2.8% cap rate.
Built in 1974, the hacienda-style property sits on a large, 15.3k sf l...
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• Bay Area Development Site Sells for $6 Mil
1/28/20
A private investor paid $6 mil for a one-acre, developable land parcel in the Bay Area submarket of Redwood City. The site, located at 847 Woodside Rd, was sold by Service Corporation International.
Adam Levin and Robert Joh...
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• Azusa Mixed-Use Development Lands $55 Mil in Financing
1/27/20
Serrano Development Group has obtained $55 mil in construction financing for development of The Orchard, a 177k sf mixed-use residential and retail development located in Azusa. The loan, which will be used to build 163 marke...
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