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• Investor Spends $32.5 Mil on 236 Res Units in Modesto
7/10/17
A SoCal investor has paid $32.57 mil for two multifamily communities totaling 236 units ($138k/unit) in Modesto. The acquisition consists of The Commons Apartment Homes, a 100-unit community on Standiford Ave, and Summerview ...
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• Palm Desert Apartment Property Trades for $169k/Unit
7/07/17
Villa Del Sol, a 32-unit apartment property located in Palm Desert, sold for $5.4 mil, or $168.8k/unit. The property, located at 43095 Washington St, was acquired by a private investor.
Built in 1980 and renovated in 2012, t...
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• Gelt Elevates Its CO Multifamily Portfolio with $107 Mil Acquisition of 580 Units
7/07/17
Los Angeles-based Gelt Inc has acquired a two-asset, 580-unit apartment portfolio for $107 mil ($184.5k/unit). Located in Lakewood, CO, a thriving suburban market approximately eight miles west of downtown Denver, the adjacen...
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• Trion Properties Wraps Up $9 Mil OR Apartment Buy
7/07/17
Trion Properties has acquired Bel Aire Court, a 67-unit apartment community in the Portland submarket of Beaverton, OR, for $9.2 mil ($137.3k/unit). This purchase brings the firm’s multifamily portfolio in the area to a total...
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• AZ Multifamily Property Traded in $6.2 Mil Deal
7/06/17
Juniper Canyon, a 141-unit multifamily property in Tucson, AZ, sold for $6.23 mil ($44.2k/unit). Built in 1985, the property is located at 3055 North Flowing Wells Rd.
The property features one- and two-bedroom floor plans. ...
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• Rockpoint Group / Strategic Housing Partners Venture Buys 500-Unit Torrance Res Portfolio
7/06/17
A 506-unit res portfolio in Torrance was purchased by an affiliate of Boston-based Rockpoint Group in a joint venture with Strategic Housing Partners, an affiliate of Coastline Real Estate Advisors. The deal price was not imm...
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• Downtown LA Development Site Sells for $795/sf
7/06/17
A foreign investor paid $26.5 mil for a multifamily development site in downtown Los Angeles. The property is entitled for a 24-story, 241-unit condo project that includes retail. The site sold for $795 per square foot.
The...
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• Prana Investments Pays $193k/Unit for Renovated Apartment Property in LA’s Koreatown Area
7/05/17
San Francisco-based Prana Investments recently closed on an LA multifamily buy, paying $8.7 mil for Kingsley Tower, a 45-unit ($193k/unit) apartment building in the city’s Koreatown area. The property, located at 530 S. Kings...
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• Multifamily Property in the Hollywood Hills Sells for $447k/Unit
7/03/17
Woodland Hills-based Sussex Capital Group LLC has paid $13.4 mil for The Hillpointe, a 30-unit ($447k/unit) apartment property located in the Hollywood Hills neighborhood of Los Angeles. The property was sold by Beverly Hills...
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• Brandywine Homes Breaks ground on Buena Park Multifamily Project
6/30/17
Brandywine Homes has broken ground on Corsica, a 1.66-acre community offering 17 two-story townhomes. The development, located at 8572 Stanton Ave in Buena Park, is scheduled to open for sale in the fall.
The 1.8k sf to 2.1k...
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• $275 Mil Mixed-Use Development Gets Underway in Salt Lake City
6/29/17
SALT Development has started construction of Hardware District, a $275 mil mixed-use, four-building development featuring 466 luxury multifamily units and 260k sf of office space. It’s located on 400 West between North Temple...
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• CBRE Arranges $85 Mil in Purchase Money for MG Properties’ 410-Unit Vista Res Buy
6/29/17
CBRE Capital Markets’ Debt & Structured Finance team has arranged a $84.9 mil loan on behalf of MG Properties, for the financing of Alexan Melrose, a Class A multifamily complex in Vista. MG just acquired the 410-unit asset f...
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• Crown Acquisitions Buys OC Apartment Property with $29 Mil Loan
6/28/17
Crown Acquisitions Inc has obtained a $29 mil loan for the purchase of Fullerton University Village, a student housing community located in Fullerton. The borrower plans to renovate the property and create a more dynamic livi...
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• Vista Investment Group Collects $23.7 Mil from Sales of Two Hollywood Res Properties
6/27/17
Vista Investment Group, LLC has sold two Hollywood apartment buildings in separate transactions totaling $23.7 mil. The properties, Avondale Hollywood and Sunset Formosa, contain a combined 94 units.
Avondale Hollywood, a 58...
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• Gelt Inc Purchases 472-Unit Multifamily Community in Albuquerque
6/27/17
Gelt Inc has acquired Mountain Run Apartments, a 472-unit community in Albuquerque. The seller was Chartwell Capital Partners.
Built in 1985, the community offers a tranquil, park-like setting on nearly 16 acres of land and ...
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• Work Completed on Mixed-Use Development Near Downtown LA
6/26/17
Construction has been completed on The Bend, a three-story, 40k sf mixed-use creative campus that consists of 40 live-work units arranged around a landscaped central courtyard, The project, designed by KFA and developed by Te...
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• Phoenix Multifamily Property Refinanced with $28.5 Mil Loan
6/26/17
P.B. Bell Companies has refinanced Siena on Baseline, a 352-unit multifamily property in Phoenix, with a $28.5 mil loan arranged by Meridian Capital Group.
Siena on Baseline, located at 4520 East Baseline Rd, is a two-story,...
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• Developer Buys LA Koreatown Property
6/23/17
CGI – Strategies in Real Estate has paid $10.5 mil for a 38.5k sf development site in Los Angeles’ Koreatown District. The property is located at 834 Mariposa Ave near 8th St and James M. Wood Blvd.
The buyer acquired the si...
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• Ares Management L.P. and TruAmerica Multifamily Pick Up 240-Unit AZ Res Property
6/23/17
Broadstone Gateway, a 240-unit family community in the Phoenix metro area, was purchased by Funds managed by Ares Management L.P. and TruAmerica Multifamily in a recent $30.75 mil transaction. Broadstone Gateway is located at...
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• Fowler Property Acquisitions Spends $40 Mil on AZ Res Asset
6/23/17
San Francisco-based Fowler Property Acquisitions LLC recently closed on a notable AZ multifamily buy, paying $40.5 mil for Ocotillo Springs, a 272-unit ($149k/unit) community in Chandler. The property, located at 825 West Que...
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