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• San Diego Investor Pays $36 Mil for Tempe, AZ Res Community
8/01/17
A San Diego-based private investor acquired Ovation at Tempe, a 270-unit multifamily community in Tempe, AZ, for $36 mil, or about $133k/unit. The asset was sold by a joint venture between Passco Companies LLC and InSite Prop...
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• Sacramento-Area Res Property Refinanced with $47 Mil Fannie Mae Loan
8/01/17
Wasatch Group has obtained a $47.2 mil Fannie Mae fixed-rate loan to refinance Chesapeake Commons, a 600-unit apartment community in Rancho Cordova, a city in the Sacramento Metropolitan Area. The financing, provided through ...
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• Investor Pays $132k/Unit for Multifamily Portfolio in Yucaipa and Calimesa, CA
8/01/17
KEBA Capital LLC paid $5.7 mil for a four -property multifamily portfolio located in Yucaipa and Calimesa, CA. The properties total 43 units ($132.5k/unit) with 32.5k sf of space.
The two properties in Yucaipa are located at...
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• KB Homes Buys Res Development Subdivision in Van Nuys
7/31/17
KB Homes recently picked up a 3.4-acre, 58 single-family home subdivision located in the central San Fernando Valley community of Van Nuys. The property is located at 14700 Sherman Way, between Van Nuys Blvd and Kester Ave.
...
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• Oceanside RV Park Refinanced with New Loan for $12 Mil
7/28/17
Pacific Current Partners has refinanced Oceanside RV Park, a 138-space coastal asset in the northern San Diego County beach community of Oceanside. The new interest-only, floating-rate loan for $12 mil was arranged by HFF and...
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• Trinsic Residential Group Buys 3.88-Acre Res Dev Site in Tempe
7/28/17
Dallas-based Trinsic Residential Group purchased 3.88 acres at The Watermark | Tempe from Fenix Development for $14.7 mil.
Trinsic will use the site for development of Aura at Watermark, a high-rise apartment tower that wil...
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• Avanath Capital Management Buys Acquires CO Affordable Housing Community
7/27/17
Avanath Capital Management LLC recently acquired Depot Square, a 71-unit affordable housing community in Boulder, CO, for $13.6 mil ($191.5k/unit). This is the firm’s first acquisition in Colorado.
Depot Square is a Class A,...
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• CVG Properties Inc Buys 70-Unit Apartment Property in Santee
7/27/17
CVG Properties Inc paid $13 mil for Carlton Heights Villas, a 70-unit ($185.7k/unit) multifamily complex in Santee.
The property, located at 9705 Carlton Hills Blvd, north of Hwy 52, was 96% occupied at the time of sale.
B...
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• San Diego Apartment Property Trades for $277k/Unit
7/26/17
Vue at Lake Murray, a 65-unit multifamily community in San Diego, sold for $18 mil ($277k/unit) in a recent investment buy. The property is located at 6867 Golfcrest Dr, north of I-8 and west of Hwy 125.
The property has res...
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• Walker & Dunlop Arranges $34 Mil in Freddie Mac Funding for Roseville Apartment Project
7/26/17
Walker & Dunlop Inc provided a $33.8 mil commitment under the Freddie Mac Tax Exempt Loan (TEL) Unfunded Forward Program for the permanent financing of Campus Oaks Phase I, an affordable, garden-style apartment community in R...
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• New Res Development in LA’s Silver Lake Neighborhood Receives $21.6 Mil in Construction Money
7/25/17
A joint venture between Barth Partners and Barry Leddy Developments has obtained $21.6 mil in ground-up construction financing for development of a 35-unit res condo project in LA’s Silver Lake neighborhood. The financing was...
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• Dornin Investment Group Closes Purchase of 192 Res Units in Las Vegas
7/25/17
Dornin Investment Group has acquired Sunrise Springs Apartments, a 192-unit, Class B apartment community in Las Vegas, for $15.6 mil, or $81.3k/unit. The property, viewed as a value-add opportunity, is located at 4455 East Tw...
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• Los Angeles Apartment Property from 1926 Sells for $169k/Unit
7/25/17
Los Angeles-based RVT Capital acquired a two-building, 54-unit apartment community in Los Angeles for $9.1 mil ($169k/unit). The asset, located at 118-124 Westmoreland Blvd, was sold by Lion Real Estate Group.
Lion acquired...
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• Sacramento Area Residential Property Sells for $110k/Unit
7/24/17
A partnership between Ridge Capital Investors LLC and an affiliate of Andell Inc have acquired Sierra Fair Apartments, a 204-unit property in the Sacramento area, for $22.35 mil ($110k/unit). The Class B property is situated ...
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• Alameda Multifamily Property Sells for the First Time in 47 Years
7/21/17
Jerry Wise, founder and chairman of Santa Clarita-based BRAD Management, paid $11.2 mil for Bonanza Apartments, a 52-unit ($215k/unit) apartment property in the East Bay city of Alameda. Located at 430-450 Buena Vista Ave, th...
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• Sterling Real Estate Holdings Acquires 130-Unit Residential Property in Phoenix
7/20/17
Sterling Real Estate Holdings, a joint venture between Barker Pacific Group and Pacific Real Estate Partners, has acquired Summerhill Apartments, a 130-unit multifamily property in Phoenix, for $9.3 mil ($71.5k/unit). The 197...
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• New 278-Unit Seattle Res Development is Now 95% Leased
7/20/17
Bowman, a recently completed, 278-unit luxury apartment building in the Wallingford neighborhood of Seattle, now stands at 95% leased. Legacy Partners, the project developer, began construction on the five-story project in su...
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• Menlo Park Res Development Almost Finished
7/19/17
Elan Menlo Park, a 146-unit luxury apartment community in Menlo Park, is nearly complete and has begun leasing. Developed by CityView and Greystar, Elan Menlo Park is located at 3645 Haven Ave, near major employers, restauran...
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• Exchange Investor Pays $293k/Unit for 1960s Covina Apartment Building
7/19/17
Las Casitas, a 28-unit multifamily property in Covina, was purchased by a private 1031-exchange investor for $8.2 mil, or $293k/unit. The property is located at 321 South San Jose Ave, north of I-10 and east of Citrus Ave.
...
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• Trammell Crow Residential to Redevelop Downtown Oakland Parking Lot into Mixed-Use Complex
7/18/17
Trammell Crow Residential (TCR) has broken ground on a redevelopment in Oakland that will transform a parking lot between Webster St and Valdez St at 23rd St into a vibrant mixed-use destination that includes luxury apartment...
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