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• American Realty Advisors Purchases 439-Unit Mixed-Use Property in Austin, TX
8/31/18
American Realty Advisors closed on an institutional-quality res buy in Texas, acquiring Northshore, a 38-story, luxury, mixed-use tower in the epicenter of Austin. The property features 439 residential units, and 52k sf of re...
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• Two SoCal Multifamily Sales Generate $10.8 Mil
8/31/18
Two SoCal multifamily properties were purchased by different private buyers in separate deals totaling $10.8 mil. CBRE’s Dan Blackwell represented the seller, a family partnership, in both transactions.
In one of the deals,...
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• San Diego Apartment Comp Comes in at $176k/Unit
8/29/18
The Margaret Hulter Turney Trust of San Diego paid $2.5 mil for a 14-unit ($178.6k/unit) complex in the Ramona neighborhood of San Diego. The 25k sf property sits on a 14.6k sf lot located at 715 B St.
Built in 1990, the gar...
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• Multifamily Property in L.A.’s Mar Vista Area Sells for $575k/Unit
8/27/18
Washington Place Apartments, an eight-unit apartment building in L.A.’s Mar Vista sold for $4.6 mil, or $575k/unit. The asset, located at 11852 Washington Place, is situated between Culver City and Venice, in a region of West...
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• Apartment Asset in LA’s Beverly Grove Neighborhood Sells for Over $400k/Unit
8/27/18
An eight-unit apartment property in the Beverly Grove neighborhood of Los Angeles sold for $3.3 mil, or $412.5k/unit. The property sold at a record low cap rate for the area of 1.99%, and at a price per square foot of $582. I...
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• Korda Group Buys 288-Unit San Gabriel Valley Apartment Property for $78.5 Mil
8/24/18
Korda Group paid $78.5 mil for Trails at San Dimas, a 288-unit ($272.5k/unit) apartment property in the San Gabriel Valley city of San Dimas. The property was sold by Stockbridge Capital Group and CNS Focused Investments.
Tr...
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• Hollywood Res Property Bought for $394k/Unit
8/24/18
Pinewood Lane Apartments, a 26-unit multifamily property in Hollywood, was purchased by Xenon Investments for $10.25 mil, or $394k/unit. Located at 7057 Lanewood Ave, the asset was sold by a private family investment entity.
...
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• Paso Robles Apartment Project to Open Its Doors
8/23/18
Blue Oak, a new luxury apartment and townhome community in Paso Robles, will officially open to the public this week. The project, a development of MBK Rental Living, is located at 710 Experimental Station Road.
The communit...
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• Two Silicon Valley Sales Total $11 Mil
8/23/18
We’ve got two recent commercial property sales in Silicon Valley to report. The transactions, one for a multifamily community in Santa Clara and the other for a stand-alone industrial warehouse in San Jose, totaled $11 mil.
...
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• Prism Multifamily Group Finances Palm Springs Apartment Buy with $10.8 Mil Fannie Mae Loan
8/22/18
Prism Multifamily Group recently acquired Latitude 33, a 121-unit, Class A multifamily property in downtown Palm Springs. Latitude 33 holds significance for Palm Springs, which is home to only nine market-rate apartment commu...
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• Beverly Hills Apartment Building Trades at $475k/Unit
8/22/18
A private investor paid $2.85 mil for a six-unit ($475k/unit) multifamily property in Beverly Hills. The property was sold by a family trust.
The property is located at 226 S Gale Dr, in a central Beverly Hills location – st...
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• Non-Rent Controlled Apartment Building in NoHo Arts District Goes for $381k/Unit
8/21/18
An 18-unit, non-rent controlled multifamily property in North Hollywood sold for $6.85 mil, or $381k/unit. The property is located at 5543 Case Ave, in the heart of the booming NoHo Arts District, walking distance to the Noho...
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• Work Started on Upscale Res Development in L.A.’s Silver Lake Neighborhood
8/20/18
Bolour Associates has broken ground on a 65-unit, luxury apartment complex in the Silver Lake neighborhood of Los Angeles. The $24 mil project is located at 3160 Riverside Dr, adjacent to I-5 at Hyperion Ave.
The new develop...
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• Local Investor Buys Nine-Unit Apartment Building in West Hollywood
8/17/18
The Hayworth Apartments, a nine-unit apartment property in West Hollywood, traded hands in a recent $2.76 mil ($307k/unit) deal. Located at 1023 North Hayworth, the property is in a prime location near the shops and restauran...
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• Work Started on High-Rise Apartment Project in L.A.’s Miracle Mile
8/17/18
JH Snyder Company and its partner, OGO Associates, have started construction on the Residences at Wilshire Curson, a 20-story state-of-the-art apartment building that will join the SAG-AFTRA Plaza site in the heart of the Mir...
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• Tierra Properties Buys 10-Unit Apartment Building in West Hollywood
8/16/18
Tierra Properties paid $3.3 mil for a 10-unit ($330k/unit) apartment property in West Hollywood. The asset was sold by a Los Angeles-based private investor.
Built in 1963, the two-story building is located at 1131 N. Fuller ...
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• Local Investor Pays $268k/Unit for Multifamily Asset in Concord
8/15/18
Civic Center Apartments, a 28-unit multifamily property in the highly sought-after downtown area of Concord, sold for $7.5 mil ($268k/unit). The asset was acquired by a local buyer, PTLA Real Estate Group.
Located at 1870 an...
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• San Diego Apartment Building Goes for $265k/Unit
8/14/18
Winslow Family LP, a local real estate investor, purchased 4290 Mount Abernathy, a 26-unit apartment building located in the central Clairemont area of San Diego, for $6.9 mil ($265k/unit). The property is located west of I08...
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• Home Affordability in California Drops to Lowest Level in 10 Years
8/14/18
Record home price increases and higher interest rates combined to constrain California housing affordability to the lowest levels in 10 years, according to the lates research from the California Association of Realtors® (C.A....
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• Silicon Valley Multifamily Project Lands $121 Mil in Development Money
8/13/18
In a large multifamily financing deal out of Silicon Valley, Anton DevCo has obtained a $121.7 mil participating mortgage for the development of Anton Milpitas 730, a 266-unit, Class A multi-housing community with 1.8k sf of ...
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