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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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• APPA Real Estate Buys Development Site in East Pasadena
12/12/19
Los Angeles-based APPA Real Estate has purchased a land site in East Pasadena for the development of a new transportation-oriented, mixed-use multifamily project. The site, totaling just over three-quarters of an acre at 3768...
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• Long Beach Multifamily Asset Sells for $365k/Unit
12/11/19
A 12-unit, two-building apartment property in the desirable Alamitos Beach neighborhood of Long Beach sold for $4.38 mil, or $365k/unit. The property, located at 1316-1322 E. 3rd St, a few blocks north of Ocean Ave and roughl...
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• Rise Properties Trust and Cigna Investment Management Pick Up 131-Unit Seattle Res Asset
12/11/19
Rise Properties Trust and Cigna Investment Management have acquired Joseph Arnold Lofts, a 12-story, 131-unit apartment building located at 62 Cedar St in Seattle’s Belltown neighborhood, one block from the redeveloping Seatt...
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• Republic Urban Properties Obtains $335 Mil in Financing for Bay Area T.O.D. Project
12/10/19
Republic Urban Properties LLC has secured $335.6 mil for the development of Gateway at Millbrae Station, a transit-oriented, mixed-use residential and office property adjacent to the Millbrae BART and Caltrain Stations in Mil...
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• Mountain View Res Property Trades for $686k/Unit
12/10/19
A 59-unit multifamily townhome community in the Silicon Valley city of Mountain View was acquired by a private investor for $40.5 mil, or $686.4k/unit. Built in 1970, the property is located at 2310 Rock St, 2.2 miles away fr...
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• Acquisition of Downtown San Diego Development Site Funded with $7 Mil Loan
12/09/19
San Francisco-based India & Beech LLC acquired a 10k sf land parcel in the Little Italy neighborhood of downtown San Diego for development of a high-rise residential/retail tower. The $7.1 mil purchase is being funded by a $7...
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• Buena Park Multifamily Comp Closes at $288k/Unit
12/06/19
Knott Townhouses, a four-building, 28-unit multifamily property in Buena Park, was acquired by an investment entity for $8.06 mil, or about $288k/unit. Located at 7051 9th St, the property is a two-story, garden-style complex...
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• Trion Properties Spends $26 Mil on 162 Res Units in the Portland Area
12/06/19
Trion Properties has acquired a portfolio of three multifamily assets totaling 162 units in the Portland area for a total price of $26.05 mil, or $160.8k/unit. The properties include: Aster Parc Townhomes, a 62-unit community...
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• Commercial Real Estate Financing Briefs
12/06/19
BERKADIA - Branden McBirney of Berkadia arranged $82 mil in refi money for Silverado Apartment Homes, a garden-style multifamily property in Murrieta. Located at 25100 Vista Murrieta, Silverado Apartment Homes features one-, ...
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• Silicon Valley Res Development Trades for $292 Mil
12/05/19
NYC-based Brookfield Property Group has closed on a large multifamily acquisition in Silicon Valley, paying $292 mil for The Village Residences, a 330-unit asset in Mountain View. The property was sold by a joint venture betw...
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• Mixed-Use Asset in San Diego Purchased for $5.5 Mil by Midwest Investment Properties
12/05/19
A 12.4k sf retail and residential mixed-use property in San Diego’s South Park neighborhood sold for $5.5 mil ($443.50/sf). The 14.4k sf parcel is located at 3006-3020 Beech St, north of Hwy 94 between I-15 and Balboa Park.
...
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• Investors Trade Lomita Multifamily Property in $6.75 Mil Deal
12/05/19
Rolling Hills Gardens Apartments, a 24-unit apartment building in Lomita, sold for $6.75 mil, or $281k/unit. Located at 25925 Viana Ave, adjacent to Pacific Coast Highway, the asset was traded between local private investors....
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• Mar Vista Apartment Property Sells for $312k/Unit
12/05/19
A 16-unit apartment complex in the West L.A. community of Mar Vista was purchased by a private investor for $5 mil, or $312k per unit.
The property, Mar Vista Apartments, is located at 11715-11725 Palms Blvd. Built in 1955, ...
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• Crystal Asset Management Inc Makes $39.5 Mil Res Buy in the Inland Empire
12/04/19
Los Angeles-based Crystal Asset Management Inc paid $39.5 mil for Vista Springs, a 212-unit ($186.3k/unit) garden-style multifamily property in Moreno Valley. The seller was Providence II Vista Springs LLC, an affiliate of Sa...
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• Pathfinder Partners Completes Remodels on Two Colorado Apartment Communities
12/04/19
Pathfinder Partners has completed a comprehensive, $2 mil remodel of two adjacent apartment communities – Henley and Remy – at 635 Mohawk Dr and 565 Mohawk Dr in Boulder, CO. Situated on 3.9 acres, the communities are joined ...
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