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• Local Developer Spends $13 Mil on Older OC Multifamily Property
9/01/17
Garden Grove Manor Apartments, a C Class, 78-unit multifamily property in Garden Grove, sold for $13.2 mil, or $169.2k/unit. The asset, located at 10642 Bolsa Ave, south of the 22 Fwy and east of I-405, was acquired by a loc...
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• Legacy Partners and The Resmark Companies Break Ground on Res Project in Downtown San Diego
9/01/17
Legacy Partners and The Resmark Companies have just broken ground on a 168-unit apartment project in the highly desirable Marina District of downtown San Diego. The development is located at 372 4th Ave, just one block west o...
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• Experiential Urban Lifestyle Development Planned for Westminster’s Little Saigon
8/31/17
A new residential/mixed-use development is planned for the OC city of Westminster that is expected to serve as the gateway to “Little Saigon,” the largest Vietnamese community in the U.S. Called Bolsa Row, the project is bein...
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• Eight-Unit Santa Monica Apartment Building at the Beach Sells Vacant for Around $500k/Unit
8/30/17
By Allen Wolfsheimer
Arcadia Terrace Apartments, a fully vacant, eight-unit oceanfront apartment building in Santa Monica (some records show it as nine units), has sold for $4.25 mil ($531k/unit). The property, located on a ...
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• Construction Finished on $120 Mil Senior Living Community in Playa Vista
8/29/17
Construction of Fountainview at Gonda West, a luxury senior living community in Los Angeles’ Playa Vista neighborhood, has been completed. The project, a continuing care retirement community (CCRC) by the Jewish Home for the ...
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• Modern Residential and Henley USA to Undertake $2.4 Mil in Renovations on Two Phoenix Area Res Properties
8/29/17
Modern Residential and Boston-based Henley USA have begun $2.4 mil in renovations and repositioning for two multifamily properties they recently acquired in the Phoenix area. The properties, totaling 481 units, are Sonoma Pin...
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• Los Angeles Apartment Rents Up 5.1% Over the Prior Year
8/28/17
The Los Angeles multifamily housing market remains very strong in the second quarter of 2017, according to NAI Capital’s Multifamily Market Outlook. The average asking rent hit its highest level on record at $1,678/unit, up b...
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• Recent Purchase of 318-Unit Belmar Villas Represents the Second Denver Area Acquisition for Steadfast Apartment REIT III
8/28/17
In a major multifamily acquisition from a month or so ago, Steadfast Apartment REIT III Inc purchased Belmar Villas, a 318-unit, garden-style apartment community in the Denver, CO suburb of Lakewood, for $63.3 mil ($199k/unit...
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• Van Nuys Apartment Purchase Sets Records for Rent-Controlled Property Sales in that Zip Code
8/25/17
A 28-unit multifamily property located at 14618-14624 Wyandotte St in Van Nuys traded hands for $5.7 mil. Constructed in 1956 and 1957, the two buildings are subject to Los Angeles Rent Control.
The price works out to $203,...
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• Los Angeles Apartment Building Picked Up by Local Investor for $8 Mil
8/24/17
A Los Angeles-based private investor paid $8 mil for a 36-unit ($222k/unit) res property in L.A. Located at 5100 Maplewood Ave, the asset was sold by Lion Real Estate Group.
Built in 1969, 5100 Maplewood Avenue features two ...
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• Community Preservation Partners Completes Residential Rehabilitations in San Jose
8/24/17
A year after closing two affordable housing acquisitions in San Jose totaling around $87 mil, Irvine-based Community Preservation Partners (CPP) has completed extensive rehabilitations to both properties, the 144-unit Monte V...
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• Two WA Financings Total $22 Mil
8/22/17
We’ve got two recent financings in the state of Washington to report. The transactions, both arranged by Newmark, total $22 mil.
In the larger deal, Newmark arranged $13 mil secured by the historic Port Gardner Office Buildi...
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• OC Multifamily Remains Strong with a Vacancy Rate of Just 4.1%
8/22/17
The multifamily housing market in Orange County remained very strong in the second quarter of 2017, maintaining high occupancy while the average asking rent continued to rise. According to NAI Capital’s just-released Multifam...
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• San Diego Investor Pays Over $29 Mil for 126-Unit Multifamily Property in the San Gabriel Valley
8/21/17
Azure Apartments, a 126-unit property in the San Gabriel Valley city of Rowland Heights, traded hands in a recent $29.25 mil ($232k/unit) transaction. The property, located at 1940 Fullerton Rd, was purchased by Stratford Par...
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• Universe Holdings Acquires 53-Unit Res Property in LA’s Westlake District
8/21/17
Universe Holdings paid $12.6 mil for Nob Hill Towers, a 53-unit ($237.7k/unit) apartment community located in the Westlake district of Los Angeles. Built in 1929, the property is located at 2430 Ocean View Ave, in close proxi...
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• Renovated Palo Alto Affordable Housing Project is Unveiled
8/18/17
Colorado Park Apartments, an affordable residential rental community developed by Palo Alto Housing (PAH), is celebrating a grand re-opening, after undergoing a major renovation program. Colorado Park Apartments is a seven-bu...
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• Oakland Apartment Property Sells for $4.7 Mil
8/18/17
A four-building, 20-unit apartment community in Oakland’s Piedmont Avenue neighborhood sold for $4.675 mil, or $234k/unit. The property is located at 4114-4134 Howe Street.
The seller, Howe Street Properties LLC, had complet...
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• Pathfinder Partners Pays $115k/Unit for Sacramento Apartment Complex
8/18/17
Savannah Court, a 195-unit Class B apartment community in Sacramento, was purchased by Pathfinder Partners for $22.425 mil ($115k/unit). Built in 1986, the property is located at 4301-4399 Norwood Ave.
Savannah Court consist...
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• Douglas Emmett Secures $550 Mil Financing on Four LA Area Res Properties
8/17/17
Walker & Dunlop Inc recently closed a portfolio of four refinance loans totaling roughly $550 mil on behalf of Douglas Emmett Inc. The interest-only loans are backed by four Class A apartment properties located in Los Angeles...
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• Pathfinder Partners LLC Closes $15 Mil Portland Res Buy
8/17/17
Pathfinder Partners LLC purchased The Habitat, an 85-unit community in the Portland, OR area, for $15 mil ($176.5k/unit). Built in 1978, the property is located at 5745 SW Oleson Rd, within the affluent Raleigh Hills neighbo...
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