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• San Diego Apartment Property Sells for $321k/Unit
5/14/18
A 24-unit apartment building in San Diego sold for $7.7 mil, or about $321k/unit. The property, located at 1770 Evergreen St, just west of San Diego International Airport, was sold by Kathryn Hattox Trust.
The apartment buil...
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• Positive Investments Spends $12.5 Mil on 86-Unit Residential Property in Compton
5/11/18
Positive Investments has acquired a vacant, 86-unit multifamily property in Compton for $12.5 mil, or $145k/unit. It was sold by a community-based 501(c)3 non-profit in an off-market transaction.
Built in 1986, the 79.4k sf ...
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• Colorado Investment Entity Acquires 1,154 Res Units in Texas
5/10/18
A Colorado-based investment group purchased a three-property multifamily portfolio totaling 1,154 units in Lubbock, TX. The price was not disclosed.
The properties in the portfolio are:
• Dominion Apartments -- a gated, 260...
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• Second Phase Completed at 276-Unit Westminster, CO Res Development
5/10/18
Phase II of Legacy on the Promenade, a multi-phase, 276-unit residential project in Westminster, CO, has been completed. The 37 finished units that comprise Phase II have an average size of 923 sf.
This phase also features ...
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• San Bruno Multifamily Property Traded at $420k/Unit
5/10/18
A 1031 exchange investor paid $12.6 mil for Crestview Apartments, a 30-unit ($420k/unit) multifamily complex in San Bruno. The property sits on two parcels at 2201-2221 Princeton Drive.
Crestview Apartments has a mix of 25 o...
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• Brixton Capital Buys 216-Unit TX Res Asset
5/07/18
Brixton Capital purchased the Sawgrass Apartments, a 216-unit multifamily property in Corpus Christi, TX. The property, located at 6301 Meadowvista Dr, marks Brixton’s second acquisition of 2018. The price was not disclosed.
...
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• 644-Unit Los Angeles Area Multifamily Portfolio Sold for over $161 Mil
5/04/18
An eight-property, 644-unit multifamily property portfolio in Los Angeles County has traded hands in transactions valued at $161.9 mil ($251.4k/unit). The properties sold are:
• Oaktree Apartments, 148 units, Santa Clarita...
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• Funding Obtained for Conversion of OR RV Park to Tiny Home Community
5/03/18
Columbia Pacific Advisors has funded $10.25 mil in short-term debt to complete the conversion of a former RV Park into a “tiny home” resort community near Salem, OR.
Funded through Columbia’s bridge lending platform, the two...
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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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