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• Redwood City Multifamily Community Trades for $500k/Unit
5/03/18
Velocity at Sequoia Station, a 30-unit multifamily community in Redwood City, was acquired by a private 1031 exchange investor in a recent $15 mil ($500k/unit) deal. The asset, located at 1331 Jefferson Ave, was sold by Old A...
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• Phoenix Res Property Traded at $123k/Unit
5/02/18
Rincon Partners has purchased Madison Grove, a 171-unit, Class A multifamily complex in Phoenix, AZ, for $21.45 mil ($122.8k/unit). The property, located at 7045 N. 7th St, also features a resort-style pool, state-of-the-art ...
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• Costa Mesa Multifamily Trades for $33 Mil
5/02/18
The Bascom Group LLC has acquired Sunset Cove Apartments, a 123-unit infill apartment community in Costa Mesa. The purchase price was $33.3 mil, or around $271k/unit.
Built in 1970, Sunset Cove provides immediate access to m...
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• L5 Investments Spends $15 Mil on 97-Unit WA Multifamily Property
5/02/18
L5 Investments (L5) has acquired The Montrose Apartments, a 97-unit multifamily property in Washington, for $15.35 mil ($158.2k/unit). The property is located at 220 S. 152nd St in Burien, a growing suburb of Seattle located ...
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• San Fernando Valley Apartment Complex Sells for $413k/Unit
5/01/18
Granada Pointe Townhomes, a 52-residence multifamily asset in the San Fernando Valley community of Granada Hills, sold for $21.5 mil ($413.5k/unit). It was acquired by a Los Angeles-based high-net-worth individual.
Built in ...
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• WA Multifamily Property Lands $11.3 Mil in Freddie Mac Money
5/01/18
CBRE Capital Markets’ Debt & Structured Finance team has secured $11.3 mil in financing for The Commons at Innovation Center, a 150-unit apartment complex in Richland, WA. The property is within the Tri-Cities Research Distri...
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• Pacific Crest Realty Pays $290k/Unit for Hip Value-Add Res Buy
4/27/18
LA-based Pacific Crest Realty (PCR) purchased a 24-unit apartment building in LA’s Silver Lake area for $6.95 mil ($290k/unit). Built in 1913, the building is located three doors up from Sunset Junction, where Santa Monica an...
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• Champion Realty to Develop 100-Unit Res Project Near USC
4/26/18
A Champion Realty affiliate has acquired 2.76-acre property located at 801 W Adams Blvd in Los Angeles, near the University of Southern California (USC). Champion plans to develop a 100-unit townhome project at the site.
Cha...
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• L5 Investments, MLA Properties and BH Equities Team Up in 360-Unit Phoenix Multifamily
4/26/18
Cielo Apartments, a 360-unit apartment community in Phoenix, was acquired for $27.2 mil ($75.6k/unit) by a partnership between L5 Investments, MLA Properties and BH Equities. The complex was 91% occupied at the time of closin...
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• Venture Pays Over $5 Mil for Res Development Site in Midtown Phoenix
4/24/18
A venture between Las Vegas-based Fore Property Co and HQ Capital in New York City, has acquired a 1.98-acre, transit-oriented development site in midtown Phoenix for $5.15 mil. The site is located on Central Ave between Colu...
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• Trion Properties Spends $24 Mil on Trio of Portland-Area Multifamily Assets
4/24/18
Trion Properties has acquired three multifamily assets totaling 174 units in Portland, OR submarkets. The properties, located in Beaverton and Tigard, had a combined price of $24.2 mil.
The properties include a portfolio of ...
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• Bay Area Mixed-Use Project Underway Thanks to $65 Mil in Construction Money
4/20/18
Fremont Hills Development Corp has obtained $65 mil in construction financing for the development of Mission Hills, a mixed-use project in the Bay Area city of Fremont. The loan was provided by Parkview Financial.
Located at...
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• Demmon Partners Acquires 50-Unit Multifamily Property in Downtown Sacramento
4/20/18
Demmon Partners has acquired 16 Powerhouse, a 50-unit, Class A multifamily property in downtown Sacramento. Although we don’t have the actual purchase price, we can tell you that the buy was funded with $15.92 mil in Fannie M...
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• Work Completed on Affordable Housing Community in Signal Hill
4/19/18
Meta Housing Corporation has completed construction on Zinnia, a 72-unit affordable apartment community in Signal Hill. The apartment community, located at 1500 E. Hill St, was designed by Studio One Eleven.
Located in close...
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• Private Investor Pays $700k/Unit for Palo Alto Multifamily Property
4/19/18
A private investor paid $8.45 mil for Villa Sierra Apartments, a 12-unit ($704k/unit) multifamily community in Palo Alto. The property is located at 801 Middlefield Rd, in the city’s downtown region, with shopping, dining and...
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• AZ Assisted Living Facility Refinanced with $17 Mil in Freddie Mac Money
4/18/18
American Care Concepts has obtained a $17 mil Freddie Mac loan for American Orchards, a community offering assisted living and memory care services in Gilbert, AZ.
Completed in June 2016, American Orchards consists of two di...
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• Goldrich & Kest Buys 43-Unit Multifamily Property in West Hollywood
4/17/18
Culver City-based Goldrich Kest has acquired Infinity West, a 43-unit garden-style apartment building in West Hollywood, for $23.65 mil ($550k/unit). Infinity West is located at 7051 Lanewood Ave, near the intersection of Sun...
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• San Mateo Apartment Portfolio Refinanced with $133 Mil Loan
4/17/18
Stockbridge Capital Group recently secured $132.9 mil in financing on a three-property, Class A apartment portfolio totaling 336 units in San Mateo. The loan proceeds were used to retire existing construction financing.
The ...
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• North American Development Group to Build 350-Unit Res Tower at Phoenix Mixed-Use Campus
4/16/18
Florida-based North American Development Group recently acquired a nearly one-acre parcel within the 16-acre Arizona Center Project in downtown Phoenix. The site was sold by San Diego-based Parallel Capital Partners
North Am...
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• Vacant 1960s Apartment Building near Downtown Culver City Sells for $430k/Unit
4/12/18
A private investor paid just over $3 mil for The Durango Apartments, a two-story, seven-unit ($428.5k/unit) multifamily building in the Palms area of West Los Angeles. This was an uncommon sale as the property was delivered f...
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