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• AZ Multifamily Community Sold for $13.9 Mil
11/08/19
Montego Bay Apartments, a 192-unit complex in Sierra Vista, AZ, has sold for $13.9 mil, or $72.4k/unit. The property, located at 409 S. Lenzner Ave, was acquired by DLP Capital Partners, a single-family development and privat...
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• AZ Res Sale a Reflection of Consistent High Demand in the Area
11/07/19
FIVE46, a 320-unit multifamily asset in Mesa, AZ, was acquired by S2 Capital for $46 mil, or $143.8k/unit. The property was sold by a joint venture between Security Properties and funds managed by Oaktree Capital Management L...
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• San Fernando Apartment Property Comp Comes in at $182k/Unit
11/07/19
A 30-unit multifamily property in the North Hills area of the San Fernando Valley sold for $5.475 mil, or $182.5k/unit. The buyer and seller are both private investors.
The property, Orion Gardens, is located at 8923 Orion A...
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• Phoenix Multifamily Asset Purchased by OR Exchange Investor
11/06/19
Equity Advantage Inc, an OR-based 1031 exchange investor, has acquired Coronado 137, a 43-unit apartment community in Phoenix, for $7.5 mil ($174.4k/unit).
Located at 137 E. Coronado Rd in the desirable Coronado Historic Di...
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• Colorado Multifamily Property Sells in $92 Mil Deal
11/06/19
Westhills Apartment Homes, a 400-unit apartment property in Colorado, traded hands in a $92 mil ($230k/unit) transaction. The property, located at 453 Van Gordon St in Lakewood, a submarket of Denver, was sold by Los Angeles-...
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• Recently Completed Res Project in L.A.’s Koreatown Sells for Almost $500k/Unit
11/05/19
A 60-unit multifamily property in Los Angeles’ Koreatown neighborhood has sold for $29.25 mil, or $487.5k/unit. The 48k sf property, Kodo, was completed in 2018 and is located at 2867 Sunset Place, west of Hoover St and just ...
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• Bakersfield Multifamily Property Sells for $107k/Unit
11/05/19
Dana Apartments, a 49-unit community in Bakersfield, sold with multiple offers for a sales price of $5.25 mil ($107.1k/unit). Built on a 2.34-acre site in 1968, the property is located at 3600-3610 Dana St.
The property is ...
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• Res Development Site in Orange Goes for $5.5 Mil
11/04/19
A 65k sf, senior housing redevelopment site in the city of Orange sold for $5.5 mil, or $84.62 per square foot. The property is located at 1249 E Katella Ave, just west of the 55 Fwy.
The site included a two-story multi-tena...
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• Long Beach Apartment Building Trades at $381k/Unit
11/01/19
An eight-unit apartment property in Long Beach’s Alamitos Beach neighborhood sold for $3.05 mil, or $381k/unit. It was acquired by a Los Angeles-based family office in a deal that had a closing cap rate of 4.9%.
The property...
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• Work Finished on Marina del Rey Live/Work Campus
11/01/19
Work has been completed on INclave, a dynamic live-work-play campus in the Marina Arts District of Marina del Rey. Located at 4061-4065 Glencoe Ave, INclave comprises 65k sf of tech savvy, amenity- rich creative office space...
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• Third Res Tower at Metropolis Development in DTLA Set to Open Soon
11/01/19
Metropolis, the $1 bil landmark development in Downtown Los Angeles, is nearing final completion as one of the largest mixed-use communities in the western United States. Along with the current, 18-story Hotel Indigo (by IHG ...
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• Gelt Spends $61 Mil on Denver Area Res Community
10/31/19
Gelt Inc has acquired Timber Lodge, a 390-unit, value-add apartment community outside of Denver, for $61 mil ($156.4k/unit). The property is located about nine miles from downtown Denver at 1769 Coronado Pkwy in Thornton, CO....
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• Greystone Provides $33.7 Mil Refi Loan on Long Beach Area Mobile Home Community
10/31/19
Greystone has provided a $33.7 mil Freddie Mac refi loan on Belmont Shores Mobile Estates, a 347-unit age-restricted manufactured housing and mobile home community in Long Beach. Located within the beach community in Californ...
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• Community Preservation Partners to Renovate Over 400 Affordable Homes in New Mexico
10/31/19
Community Preservation Partners (CPP) will begin renovations on 436 affordable homes throughout New Mexico, in a move that will extend and preserve many affordable housing units in the state.
Part of a $16.2 mil construction...
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• Z&L Properties Obtains $330 Mil in Financing for Downtown San Jose Condo Project
10/30/19
Z&L Properties Inc has secured $330 mil in financing for the development of 188 West St. James, a two-tower, 640-unit luxury condominium project located in downtown San Jose. The project is currently under construction on a 1...
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• MJW Property Group Closes $90 Inland Empire Res Buy
10/29/19
In a recent Inland Empire multifamily buy, MJW Property Group purchased The Enclave at Menifee, a 336-unit res property in Menifee, in a deal said to be worth just over $90 mil ($268k/unit). Built in 2007, the property is loc...
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• GH Palmer Associates Buys San Diego-Area Development Land
10/29/19
A GH Palmer Associates affiliate has acquired four parcels of land totaling 22.69 acres in San Diego’s Mission Gorge area. The property is entitled for the development of 996 new residential units. Entitlements also call for ...
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• Construction Tops Off on Bay Area Mixed-Use Development
10/28/19
Construction on Station 1300, a new three-story, transit-oriented development in downtown Menlo Park, just topped off in September with placement of the final beam. The mixed-use project is a development of Greenheart Land C...
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• Trion Properties and The Ketter Group Acquire Dev Site in L.A.’s Mid-Wilshire
10/28/19
Trion Properties and joint venture partner The Ketter Group have acquired a land parcel in L.A.’s Mid-Wilshire area for $7.35 mil. The land, which was previously entitled for 45 units, will be used for residential development...
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• Bay Area Investor Pays $121.5k/Unit for Sacramento Multifamily Property
10/28/19
The Regency Apartments, a 130-unit community in Sacramento, sold for $15.8 mil ($121.5k/unit) after receiving multiple offers. The property, located at 5900 Riza Ave, was purchased by a private investor based in the Bay Area....
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