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• Continental Realty Advisors Collects Over $200 Mil from the Sales of Four Multifamily Communities
5/07/19
Four apartment properties containing in excess of 1,400 units have sold in separate transactions totaling over $200 mil. The properties, which were sold by Denver-based Continental Realty Advisors (CRA), span four different h...
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• Local Developer Pays $15.5 Mil for 2.75-Acre Parcel in Fremont
5/07/19
A local developer paid $15.5 mil for a 2.75-acre land parcel in Fremont. The land parcel is located at 3515 Walnut Ave. The property is in close proximity to transportation hubs and major highways, including Interstates 880 a...
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• CPP Completes $35.6 Mil Rehabilitation of 140-unit Affordable Housing Community in Antelope
5/07/19
Community Preservation Partners (CPP) has completed a major renovation at Danbury Park Apartments, a 140-unit affordable housing community in Antelope, CA. The total $35.6 mil project includes an $18.5 mil purchase and nearly...
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• Two 1950s Apartment Buildings in West Hollywood Sell for Around $400k/Unit
5/06/19
Here’s some comp info on two recent multifamily sales in West Hollywood. The properties that traded total 34 units and sold for a combined $13.6 mil.
In one of the deals, and 18-unit property at 8450 De Longpre sold for $7.6...
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• Equity Residential Looking to Add 200+ Units to Its Reserve at Mountain View Apartments
5/01/19
Equity Residential has submitted plans to the City of Mountain View to add 200+ apartments to its Reserve at Mountain View Apartments, located at 870 E. El Camino Real in the City of Mountain View. The proposal includes the a...
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• Value-Add Res Property in San Diego Goes for $232k/Unit
5/01/19
The Hilltop Townhome Apartments, a 24-unit apartment complex in San Diego, has sold for $5.575 mil, or $232.3k/unit. The property, located at 3601 Hilltop Dr in Lemon Grove, is viewed as a value-add buy.
The property is comp...
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• Simi Valley Development Land Trades for $18.5 Mil
4/30/19
A Newport Beach-based developer paid $18.5 mil for a 12.83-acre mixed-use development site in Simi Valley. The property, located at 3039-3041 Cochran St, was formerly occupied by Farmers Insurance headquarters and features va...
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• Residential Tower Project in Austin, TX Lands $88 Mil in Construction Funding
4/30/19
Austin-based Pearlstone Partners and Miami-based Newgard Development have secured an $87.9 mil loan for construction of 48 East Avenue, a 249-unit, 30-story condominium project being developed in Austin’s Rainey District. The...
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• Urban Stearns Buys 30k sf Development Site in San Pedro
4/29/19
Urban Stearns paid $3.9 mil for a 30k sf development site in San Pedro. The site is located at 111 N. Harbor Blvd, across from the oceanfront and within an opportunity zone.
The property lies within a Transit Oriented Commun...
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• Investor Pays $163k/Unit for Riverside Multifamily Property
4/29/19
An Inland Empire-based private investor has purchased Las Casitas Apartments, a 71-unit multifamily community in Riverside, for $11.55 mil ($163k/unit). The property is located at 4982 Jurupa Ave, at the corner with Correll S...
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• San Diego Apartment Building Goes for $319k/Unit
4/26/19
In a recent multifamily sales comp from San Diego, a nine-unit, garden-style apartment property sold for $2.875 mil, or $319.4k/unit. Originally built in 1975, the property totals 6k sf and was 100% occupied at closing.
The ...
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• Passco Companies Acquires 330-Unit TX Multifamily Asset
4/25/19
Passco Companies has acquired The Grayson, a 330-unit, Class A apartment community in the northern Houston submarket of Spring, TX. The price was not given out.
Constructed in 2016, The Grayson is located at 4115 Louetta Rd....
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• Two West Hollywood Apartment Buildings Trade in Deals Near $400/Unit
4/22/19
We’ve got two multifamily comps from West Hollywood to share with you. The properties total 34 units and sold for a combined price of about $13.6 mil.
In one of the deals, an 18-unit asset at 8450 De Longpre Ave sold for $7....
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• Sacramento Multifamily Property Trades for $100k/Unit
4/20/19
A 40-unit apartment complex in Sacramento sold for $4 mil, or $100k/unit. The 32k sf property consists of 10 buildings located at 6304 Lemon Hill Ave.
Built in 1965, the garden-style apartment community boasts a unit mix of ...
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• Newport Beach Investor Exchanges into Two OC Multifamily Properties Totaling $14 Mil
4/19/19
A private 1031-exchange investor from Newport Beach acquired two OC multifamily properties for a total of $14 mil. The assets, totaling 44 units, are in Anaheim and Costa Mesa. CBRE’s Dan Blackwell represented the buyer in bo...
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• Commercial Real Estate Financing Briefs
4/19/19
MARCUS & MILLICHAP CAPITAL CORP – Sharone Sabar with Marcus & Millichap Capital Corp has arranged $50.5 mil in capital to refinance two SoCal multifamily properties. The first transaction, in the amount of $27.5 mil, refinanc...
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• Reliant Group Closes $116 Mil NoCal Res Portfolio Buy
4/18/19
San Francisco-based Reliant Group Management purchased a portfolio of seven apartment communities, located in the cities of Napa, Vallejo, Hercules, Antioch, Dublin and Hayward, for $116 mil. The portfolio contains 603 apartm...
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• Chicago-Based Investment Entity Spends $26 Mil on AZ Apartment Community
4/17/19
Tatum Investment Partners LLC, an entity formed by Chicago-based Rockwell Partners, paid $26.15 mil for Tatum Place, a 164-unit ($159.5k/unit), Class B apartment community in Scottsdale, AZ. The property is centrally located ...
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• Affordable Housing Project Breaks Ground in Redwood City
4/17/19
An affordable residential rental development, 2821 ECR Apartments, has just broken ground. The project is being developed by Palo Alto Housing (PAH) in the North Fair Oaks neighborhood of San Mateo County.
Plans call for 67...
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• Apartment Property in Bellflower Sells for $231k/Unit
4/16/19
Bellflower Boulevard Apartment Homes, a 26-unit multifamily community in Downey, was acquired by a private investor for $6 mil, or $231k/unit.
Located at 11638 Bellflower Boulevard, the property consists of 17 one-bedroom a...
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