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• Mass Equities Buys Development Site in Denver’s RiNo District
11/16/17
Mass Equities Inc (MEQ) has acquired a Denver development site in the city’s River North Arts District (RiNo). The purchase consists of 7.8 acres of land, including two existing buildings totaling over 219k sf of space. MEQ’s...
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• OC Investor Exchanges into La Habra Rental Cottage Property
11/15/17
A multifamily property in La Habra consisting of 18 single-family rental cottages was purchased by a local 1031 exchange investor for $5.3 mil ($294k/unit).
The property, located at 141-237 Monte Vista, contains 18 two-bedr...
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• San Diego Area Res Complex Trades for $34 Mil
11/15/17
Interstate Equities Corporation purchased Verse La Mesa, a 133-unit multifamily property in La Mesa, for $33.95 mil, or about $255k/unit. The acquisition was financed with a $21.9 mil Freddie Mac loan.
Verse La Mesa is locat...
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• JRK Property Holdings Adds over 600 Units to Its Holdings
11/14/17
JRK Property Holdings has made its first investment in California’s Central Valley with the acquisition of a 614-unit apartment portfolio in Fresno from Demmon Partners in a transaction valued at $98.75 mil ($160.8k/unit).
...
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• Calvera Partners Picks Up 20-Unit Res Asset in Mountain View
11/14/17
Calvera Partners has acquired Monroe Villa, a 20-unit vintage apartment building in Mountain View, in a recent $7.26 mil ($363k/unit) transaction. The property, located at 565 Escuela Ave, represents Calvera’s eleventh acquis...
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• Bascom San Francisco Refinances Renovated Alhambra Multifamily Property
11/14/17
Bascom San Francisco has refinanced its fully renovated LUXE 1801 Apartment Homes, a 109-unit, garden-style apartment community in the San Gabriel Valley city of Alhambra. The new $21.4 mil loan was arranged by Talonvest Capi...
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• New Anaheim Res Development Lands $136 Mil in Financing
11/13/17
JPI has obtained a $136 mil loan on Jefferson Platinum Triangle, a new 400-unit multifamily property located in Anaheim. The financing, which was originated by Square Mile Capital Management LLC, will repay JPI’s existing co...
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• Santa Monica Apartment Property Sells for $392k per Unit
11/13/17
In a recent multifamily sales comp from Santa Monica, The Bungalows on Ocean Park, a fully occupied six-unit apartment property, sold for $2.35 mil, or $392k per unit. The property is located at 1007 Ocean Park Blvd, south of...
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• Local Investor Pays $467k/Unit for Pasadena Residential/Retail Asset
11/13/17
Walnut Place, a fully occupied residential/retail property Pasadena’s Playhouse District, has sold for $14 mil. The 28-unit property, located at 712 E. Walnut St, includes two retail units.
Built in 2004, the five-story pro...
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• L.A. Area Multifamily Portfolio Refinanced with $267 Mil
11/10/17
In a major financing deal, George Smith Partners (GSP) has successfully secured $266.78 mil in refi money for a four-property multifamily portfolio comprised of 1,359 units in Los Angeles. The borrower is G.H. Palmer.
The r...
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• Upscale NEXT Res Development Opens in LA’s Koreatown Neighborhood
11/10/17
Century West Partners Investments have completed NEXT on Sixth, a 398-unit luxury res development at 620 S. Virgil in Los Angeles’ Koreatown submarket. Century West Partners is a joint venture of Fifield Companies and Cypress...
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• Apartment Property in LA’s Fairfax Area Sells for $295k/Unit
11/09/17
A 19-unit apartment property located in West Los Angeles sold for $5.6 mil ($295k/unit). The property is located at 750 North Hayworth Ave, just north of Melrose Ave and west of Fairfax Ave.
Built in 1959, the property sits ...
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• CA Housing Affordability Drops to Lowest Level in 10 Years
11/09/17
California’s housing affordability hit a 10-year low as tight housing inventory drove home prices higher and reduced purchasing power for homebuyers in the third quarter, primarily in previously more affordable regions such a...
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• Oakmont Properties Boosts Portfolio with 270-Unit Sacramento Multifamily Property
11/08/17
San Rafael-based Oakmont Properties has purchased The Landing at College Square, a 270-unit, Class A apartment community in Sacramento. The asset was sold by USA Properties Fund for $59 mil ($219k/unit).
Located at 7640 Wes...
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• Hines to Develop Upscale Res Project with San Antonio’s The RIM
11/08/17
Hines will develop a four-story, 380k sf luxury multifamily project within The RIM retail power center in San Antonio. The development will be Hines' first multifamily project in San Antonio and its eighth in Texas.
Loca...
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• Las Vegas Res Asset Goes for $19 Mil
11/08/17
A 208-unit multifamily property in Las Vegas, sold for $19 mil ($91.3k/unit). Built in 1981, the property is located at 5400 S Maryland Pkwy, east of I-15 and McCarran International Airport, just south of Tropicana Ave.
The ...
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• Robert Hart Honored by the Los Angeles Real Estate & Construction Industries Council of the The City of Hope
11/07/17
Robert Hart, Founder and CEO of TruAmerica Multifamily, was recently presented with the Spirit of Life Award from the Los Angeles Real Estate & Construction Industries Council of the The City of Hope for his outstanding profe...
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• Private Investors Trade Norwalk Res Property in $20 Mil Deal
11/07/17
Villa Hermosa Apartments, a 95-unit apartment complex in Norwalk, sold for $20 mil or $210.8k/unit. Both the buyer and seller are private investment entities.
Built in 1963, Villa Hermosa Apartments is located at 14717 Pione...
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• Santa Barbara Multifamily Property Site Sells for Nearly $12 Mil
11/07/17
A one-acre land parcel in Santa Barbara, currently improved with a 48-unit multifamily property, has sold for $11.95 mil. The parcel, situated near the intersection of State St and North La Cumbre Rd, is currently occupied by...
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• China-Based Investor Spends $57 Mil on Pasadena Multifamily Property
11/06/17
A private investor based out of China has purchased LUXE, a 131-unit luxury multifamily property in Pasadena, for $57.2 mil, or $436.6k per unit. The deal had a cap rate of 3.7%.
Built in 2016 on nearly two acres, LUXE’s stu...
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