|
• Western San Fernando Valley Res Community Trades for Over $400k/Unit
12/03/19
In an institutional-quality multifamily buy out of the San Fernando Valley, Virtu Investments LLC purchased Mira, a 174-unit community in Canoga Park, for $70.5 mil ($405k/unit). The still-to-be-completed property sits in an ...
|
• Apartment Building Near Venice Beach Trades at a 2.34% Cap Rate
11/27/19
A five-unit apartment property situated just one block from Venice Beach and the Boardwalk in Venice, sold for $2 mil, or $400k/unit. The deal closed at a cap rrate of 2.34% and a price per square foot of $694.
Built in 1902...
|
• FPA Multifamily Pays $33.8 Mil for Thousand Oaks Res Community
11/26/19
Stonepine Apartments, a 108-unit garden-style multifamily property in Thousand Oaks, was acquired by California-based FPA Multifamily, LLC in a $33.8 mil ($313k/unit) transaction.
Built in 1979, Stonepine Apartments is compr...
|
• Hollywood Development Site Goes for $10 Mil
11/25/19
An unentitled development site in Hollywood, on Highland Ave one block south of Sunset Blvd, sold for $10 mil. The site, located at 1410 N, Highland Ave, is zoned as TOC Tier 3 and could potentially be developed into an 86-un...
|
• CIP Secures New Financing of $58.6 Mil on Trio of Inland Empire Assets
11/25/19
CIP Real Estate has obtained $58.6 mil in new, first lien financing on three industrial/office properties totaling 610k sf in the Inland Empire. Kevin MacKenzie, Brian Torp and Peter Thompson with JLL Capital Markets arranged...
|
• New Apartment Project in Los Angeles Trades for $683k/Unit
11/25/19
A 10-unit, brand-new 2019 construction apartment property in L.A.’s Mid-City area was acquired by an out of area buyer in a $6.83 mil transaction. The deal came in a cap rate of 4.4%, a GRM of 15.62 and a price of $683.5k per...
|
• Investor Spends $311k/Unit for Two Apartment Properties in the Belmont Heights Neighborhood of Long Beach
11/22/19
Miramar Capital, out of Santa Monica, paid $14.95 mil for two apartment properties totaling 48 units ($311.5k/unit) in Long Beach. The properties are located at 425 Coronado Ave and 424 Obispo Ave, in the city’s Belmont Heigh...
|
• Private Investors Trade Palm Desert Apartment Building in $4.5 Mil Deal
11/22/19
A 25-unit apartment complex in Palm Desert sold for $4.5 mil, or $180k/unit. The property, known as El Paso Place, is located at 73200 Tumbleweed Lane and totals 18k sf.
The building contains one studio, 16 one-bedroom/one-...
|
• Trion Properties Adds 84-Unit Bay Area Multifamily Asset to Its Apartment Portfolio
11/21/19
Trion Properties has expanded its Bay Area portfolio with the acquisition of The Meadows, an 84-unit multifamily community located in Newark, for $27.5 mil ($327k/unit). The Meadows, located at 35750 Bettencourt St, features ...
|
• Apartment Building in L.A.’s Palms Neighborhood Sells for $750k/Unit
11/21/19
A newly built, 10-unit multifamily building in the Westside Los Angeles neighborhood of Palms has sold for $7.5 mil, or $750k per unit. It was acquired by a private investor in an off-market transaction.
The property is loca...
|
• Trammell Crow Company and High Street Residential to Build Mixed-Use Project in North Hollywood
11/21/19
Trammell Crow Company and its residential subsidiary, High Street Residential, have announced plans for a mixed-use project in the eastern San Fernando Valley community of North Hollywood (NoHo), within the city of Los Angele...
|
• Renovated West Hollywood Res Property Fetches $856k/Unit
11/20/19
Roka Properties acquired Element WeHo, a 24-unit high-end multifamily property in West Hollywood, for $20.6 mil, or $856k/unit. The property is located at 1425 N Crescent Heights Blvd, just south of Sunset Blvd.
The luxury p...
|
• New Mixed-Use Community in Salt Lake City Breaks Ground
11/20/19
Lowe Property Group has broken ground on Dixon Place, a 59-unit, Class A development in the heart of Salt Lake City’s Sugar House neighborhood. The six-story, mixed-use community, designed by MVE + Partners, will feature a ra...
|
• Continental Realty Group Spends $50 Mil on Two Vegas Area Res Properties
11/20/19
Continental Realty Group, through its subsidiary Continental Realty Assets Ltd (CRA), a Denver-based multi-family operator, has completed the acquisition of 240-unit Laurel Park Apartments and 168-unit Villa Del Rio Apartment...
|
• Compass Acquisition Partners Spends $66 Mil on 488-Unit Asset in Las Vegas
11/19/19
Compass Acquisition Partners has acquired Sandpiper Apartments, a 488-unit multifamily community in Las Vegas, from Apple Management for $66 mil ($135.2k/unit) in an off-market transaction. Sandpiper, located at 4650 W Oakey,...
|
• Whittier Apartment Property Purchased in a $3.46 Mil Exchange Buy
11/15/19
A 14-unit apartment complex in Whittier sold for $3.46 mil, which works out to $247k per unit. The property, located at 6330 Newlin Ave in Uptown Whittier, a prime area within the city and considered the historic “Heart of Wh...
|
• El Monte Multifamily Property Trades for $240k/Unit
11/15/19
Riverstone Apartment Homes, a 45-unit multi-tenant residential property in El Monte, has sold for $10.825 mil, or $240.5k/unit. The property is located at 3939 Maxson Rd, north of I-10 and west of I-605.
The property consis...
|
• San Diego Area Res Property Comps at $232k/Unit
11/15/19
Hollister Creek Village Apartments, a 46-unit multifamily property in Nestor, CA, was acquired for $10.7 mil ($232.6k/unit) by Equity Four Properties LLC, a subsidiary of Viewpoint Equities Inc. The buyer assumed an existing ...
|
• Barker Pacific Spends $16.7 Mil on Azusa Apartment Properties
11/14/19
The Riviera and Rainbow Gardens, two nearby apartment properties totaling 72 units in Azusa, were acquired by entities of LA-based Barker Pacific for $16.76 mil ($233k/unit). The two-story properties each include 36 units and...
|
• Planned Mixed-User in Santa Monica Gains Architectural Review Board Approval
11/13/19
WS Communities has been given approval by the Santa Monica Architectural Review Board for 1430 Lincoln Boulevard, a five-story 67.4k sf mixed-use project in Santa Monica. The development will replace a surface parking lot jus...
|
Return to the Multifamily area
