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• Anaheim Multifamily Asset Picked Up for $195k/Unit by Exchange Investor
11/13/19
A 32-unit multifamily property in Anaheim was recently acquired by a local investor for $6.21 mil, or about $195k/unit. The all-cash, off-market transaction was part of a 1031 exchange for the buyer.
The apartment complex, w...
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• L.A. Buyer Pays Over $7 Mil for Desert Hot Springs Multifamily Property
11/12/19
Willow Crest Apartments, a 50-unit community that is located on Acoma Street in Desert Hot Springs, sold for $7.2 mil, or $144k/unit. Built on a 2.93-acre site in 2007, the property is located at 65568 Acoma Ave.
Willow Cres...
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• Ventura Multifamily Property Sells for $284k/Unit
11/11/19
Ventura Del Sol, a 255-unit apartment complex in Ventura, sold for $72.5 mil ($284k/unit). The buyer was a private multifamily investment firm attracted by the property’s location and low-density configuration.
Constructed ...
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• San Fernando Valley Multifamily Sale Closes at $379k/Unit
11/08/19
Burnet Townhomes, a 43-unit multifamily community in the San Fernando Valley community of North Hills, was purchased by a private investor in a recent $16.3 mil ($379k/unit) deal.
Located at 9001-9009 Burnet Ave, south of No...
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• L.A. Westside Residential Purchased for Redevelopment Opportunity in $6 Mil Deal
11/08/19
An eight-unit multifamily property in the L.A. westside community of Westwood has sold for $5.95 mil. The property is located at 2027 and 2031 S. Beverly Glen, midway between Santa Monica and Olympic Blvds, in one of the most...
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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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