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• TruAmerica Multfamily Acquires 264-Unit Value-Add Asset in Huntington Beach
2/21/18
TruAmerica Multifamily has acquired Pacific Shores, a 264-unit apartment community in Huntington Beach, for $90.5 mil, or $343k/unit. The property, located at 7701 Warner Ave, west of the 405 Fwy, was sold by affiliates of UD...
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• Investor Snaps Up Five-Unit San Diego Property for Redevelopment Opportunity
2/20/18
A five-unit property in San Diego’s North Park neighborhood sold for $2.35 mil, or $470k per unit. The mixed-use property is situated on a 10.85k sf lot at 3085-95 El Cajon Blvd, just west of I-805.
The property will be rede...
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• Developer Picks Up 17 Acres in West Salem, OR
2/19/18
A 16.89-acre land site in West Salem, OR sold for $3.32 mil. The property is located along Linwood St NW and Orchards Heights Rd. The RM-II zoning (Multiple Family Residential, City of Salem) allows for single and multifami...
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• Buyer Pays Over $300k/Unit for Pasadena Apartment Building Built in 1961
2/19/18
A 16-unit multifamily property in Pasadena, CA has traded for $5.06 mil, or $316k/unit. Built in 1961, the property is located at 95 N. Michigan Ave, east of Lake Ave between Colorado Blvd and the 210 Fwy.
George Yessaie, CC...
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• WA Multifamily Property Acquired for $33.8 Mil by Exchange Buyer
2/15/18
A 1031 exchange investor paid $33.8 mil for Willow Springs Apartments, a 154-unit ($220k/unit) apartment complex in Puyallup, WA. Built in 1996, the property sits on 8.6 acres at 608 39th Ave SW.
Willow Springs Apartments is...
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• Sterling Real Estate Holdings Acquires 111-Unit Multifamily Property in Texas
2/14/18
Sterling Real Estate Holdings, a joint venture between Barker Pacific Group (BPG) and Pacific Real Estate Partners (PREP), has acquired La Fiesta Apartments in San Antonio. The 111-unit apartment complex is situated in the Al...
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• Buchanan Street Partners Makes $60 Mil CO Res Buy
2/13/18
Newport Beach-based Buchanan Street Partners has acquired Luna Bella Apartments, a 240-unit multifamily project in the Metro Denver community of Lafayette, CO. The newly-built, Class A apartment community was sold by Mileston...
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• Private Investor Closes Multifamily Purchase in Long Beach
2/13/18
In a recent multifamily comp from Long Beach, an unnamed private trust paid $6.2 mil for a 21-unit ($295k/unit) apartment property in the city’s Alamitos Beach submarket. The deal closed at a 3.3% cap rate.
Built in 1963, th...
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• Decron Properties Group Acquires 220 Res Units in the Bay Area
2/12/18
Decron Properties Corp acquired Bridgecourt, a 220-unit multifamily apartment complex with ground floor retail in Emeryville, CA, in a deal valued at $87.4 mil, or about $397k/unit. The seller was a joint venture between The ...
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• Phoenix Apartment Community Trades Hands in $16 Mil Transaction
2/12/18
Mission Palms, a 125-unit apartment property in Phoenix, was purchased for $16 mil ($128k/unit) by Phoenix-based Clear Sky RES Properties, an entity formed by Clear Sky Capital. The asset was sold by JM Emerson LLC of Cherry ...
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• MG Properties Group Completes $97 Mil Portland Multifamily Buy
2/12/18
San Diego-based MG Properties Group acquired Thorncroft Farms Apartments, a 340-unit residential property in Hillsboro, OR, in a recent $97.5 mil ($287k/unit) transaction.
Thorncroft is a garden-style, apartment community th...
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• Fontana Multifamily Property Sells for $172k/Unit
2/09/18
Valencia Avenue Apartments, a 16-unit apartment property in Fontana, sold for $2.75 mil, or $172k/unit. The property sits on .76 acres at 16645 Valencia Ave.
The two-story building was built in 1987. The property consists of...
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• San Fernando Valley Multifamily Property Sells for $45 Mil
2/09/18
Cielo Apartments, a 119-unit multifamily property in the western San Fernando Valley community of Chatsworth, traded hands for $45 mil, or around $378k/unit.
The property is located at 9733 Topanga Canyon Blvd, within five m...
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• Century West Partners Finishes Upscale Res Development in LA’s Koreatown
2/09/18
Century West Partners has completed NEXT on Sixth, an upscale residential community aiming to raise the bar in LA rental living. Boasting exceptional in-unit features and finishes, unparalleled community amenities, and an ups...
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• G.H. Palmer Inks $233 Mil Refi on Two Downtown L.A. Multifamily Assets
2/08/18
G.H. Palmer has just completed a cash-out refinance worth $233.6 mil on two of their downtown Los Angeles multifamily properties – the Medici and Orsini I. The 10-year, non-recourse loan closed at 4.02% and was sized at 60% o...
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• Private Investors Trade Two Multifamily Properties in San Mateo County for $27 Mil
2/08/18
An unnamed private investor paid $27.1 mil for a two-property legacy multifamily portfolio totaling 54 units ($502k/unit) in San Mateo County.
The two communities, Belview Heights and Casa Belview, are located at 1015 and 1...
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• Student Housing Project for University of Texas to Move Forward with $28 Mil in Construction Money
2/07/18
Austin-based Lincoln Ventures has obtained a $28.5 mil A&D and construction loan for The Ruckus 2.0, a 66-unit and 236-bed student housing project in the West Campus area of the University of Texas. The loan was arranged by E...
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• OC Residential Property Picked Up by 1031 Exchange Investor in $8 Mil Deal
2/07/18
A 1031 exchange investor paid $7.95 mil for Athens Circle Apartments, a residential property in Buena Park that consists of 41 apartment units and two single-family homes.
The apartment complex, located at 7800-7900 Athens C...
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• San Fernando Valley Multifamily Property Sells for Over $400k/Unit
2/05/18
Whitsett Courtyard Apartments, a 16-unit multifamily property in the Valley Village community of the San Fernando Valley, has traded for $6.75 mil, or $421.9k/unit. Built in 2003, the property is located at 5716 Whitsett Ave,...
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• Indio Multifamily Property Sale Sets Record at $132k/Unit
2/02/18
A San Diego-based private investment group paid $16.5 mil for Parkwood Apartments at Polo Grounds, a 125-unit ($132k/unit) residential community in Indio.
Built on a 7.51-acre site in 2014, the property is located at 81777...
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