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• Newly Constructed Res Project in San Diego Lands New Financing
3/28/17
Nakhshab Development & Design Inc has obtained $2.94 mil in financing on Mitra, a newly built, five-story, nine-unit boutique apartment building in San Diego’s East Village neighborhood. The property is located at 340 15th St...
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• Summerhill Housing Group to Develop Nearly 1,000 Res Units in Santa Clara
3/28/17
We’ve learned of a major new residential development planned for Silicon Valley, as Summerhill Housing Group has announced they expect to move forward with Nuevo, a master-planned res project in Santa Clara that will be compr...
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• Work Commences on Los Angeles LGBT Center’s new Anita May Rosenstein Campus
3/27/17
Work has just started at the Los Angeles LGBT Center’s new Anita May Rosenstein Campus, located at 1116 N. McCadden Place, off Santa Monica Blvd in Los Angeles.
Slated for opening in early 2019, the revolutionary new campus...
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• Bay Area Res Community Sells for $828k per Unit
3/23/17
Mallard Pointe, a lush, 22-unit resort-like multifamily community in the northern Bay Area suburb of Belvedere, changed hands in a transaction valued at $18.2 mil. The deal works out to $828k/unit, representing the highest pe...
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• Investor Pays $17.5 Mil for Phoenix Multifamily Asset
3/23/17
Clarendon Park, a 138-unit apartment community in Phoenix, traded hands in a recent sale worth $17.5 mil, or $127k/unit. The property, located at 222 W. Clarendon Ave, was acquired by Phoenix-based Rincon Partners LLC.
Buil...
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• Starpoint Properties Awards Porsche 911 to 2016 Contest Winner
3/22/17
StarPoint Properties has awarded commercial real estate broker Stewart Weston with a 2017 Porsche 911 for bringing the greatest off-market deal volume in 2016 to the Beverly Hills-based real estate investment firm.
The Porsc...
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• Cresta Properties Buys 44-Unit Res Asset in Beverly Hills
3/22/17
Cresta Properties has acquired The Royal Palm, a 45-unit multifamily property in Beverly Hills. The asset, subject to a 44-year ground lease, was purchased from a private seller in a recent $3.5 mil ($78k/unit) a transaction....
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• Daly City Site Acquired for Development of High-Density Housing
3/21/17
In development news out of the Bay Area, AMG Development picked up a 1.15-acre, vacant parcel located in Daly City on which they plan to construct a 206-unit, seven-story high density residential project. The site, which is l...
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• San Mateo County Mixed-Use Project Lands $145 Mil in Construction Money
3/21/17
The Bohannon Companies has obtained $145 mil in construction financing for a mixed-use project in Menlo Park. The loan, which will be secured by an eight-story, 210k sf office building, a 1,040-space parking structure and a 4...
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• Private Investor Spends $205k/Unit on Portland Apartment Property
3/21/17
A private investor has acquired Collective Portland, a 52-unit, urban multi-housing community located in southwest Portland, for $10.65 mil, or $205k/unit. The property was sold by Real Development Corporation.
Built in 1945...
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• Work Gets Started on Irvine Luxury Res Complex
3/20/17
Sanderson J. Ray Development has broken ground on The Westerly, a new Class A luxury apartment development located on the southwest corner of Main St and Jamboree Rd in Irvine. The development marks Sanderson J. Ray’s first l...
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• TMG Partners Planning to Redevelop San Francisco Medical Property into Residential Housing
3/20/17
Big plans await the California Pacific Medical Center (CPMC) Sutter Health campus site in San Francisco, as TMG Partners submitted a Preliminary Project Application and Environmental Evaluation for a proposed residential proj...
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• Beverly Hills Investor Spends Over $3 Mil on Long Beach Multifamily Asset
3/17/17
Palmdale Apartments, a 24-unit property located in the East Village Arts District of Downtown Long Beach, was acquired by a Beverly Hills-based investment entity for $3.18 mil, or $132.5k/unit. The deal closed at a 4.57% cap ...
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• Vegas Multifamily Property Sells for $113k/Unit
3/17/17
Conejo Villas Apartment Homes, a 252-unit multifamily property in Las Vegas, traded hands for $28.5 mil, or $113k/unit. The property is located at 5060 W. Hacienda Ave, just west of Decatur Blvd.
Built in 1999, Conejo Villas...
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• CA Home Sales and Prices Dip from January but Remain Well Above Prior Year
3/16/17
After starting the year on a positive note in January, California home sales and median price backpedaled a bit in February, but still showed strong gains on a yearly basis, according to the latest data from the California As...
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• Zion Enterprises and TA Partners Buy 1.37-Acre Dev Site in Downtown Los Angeles
3/16/17
Zion Enterprises and TA Partners have acquired a 1.37-acre site in downtown Los Angeles slated for multi-family development. The price was not disclosed.
The property, situated at Grand Ave and Cesar Chavez Ave, is entitled ...
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• El Cajon Hotel Purchased for Conversion to a Res Property
3/15/17
A private investor has purchased the 75-unit Ha’ Penny Inn in El Cajon for $5.63 mil, or $75k/unit. The plans to convert the 35.7k sf asset, located at 1549 E. Main St, into a multifamily property.
Peter Scepanovic and Corey...
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• Boutique Res Project in LA’s Larchmont Village Completed
3/15/17
Micropolitan, LLC has completed construction of Micropolitan at Larchmont Village, a boutique lifestyle, residential development in Los Angeles’ Larchmont Village area. The 32.7k sf, three-story structure is located at 5825 C...
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• Greystone Arranges $37 Mil in Fannie Mae Refi Money on TX res Community
3/13/17
Southlake, TX-based Integrated Real Estate Group recently obtained $37 mil in Fannie Mae DUS® refinancing on Enclave at Westport, a 339-unit, Class A multifamily community in the Dallas / Fort Worth Metroplex area. The proper...
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• Exchange Investor Spends Over $4 Mil on Anaheim Res Property
3/13/17
Olive Street Apartments, a 14-unit multifamily property in Anaheim, was purchased by a private investor for $4.19 mil, or $299k per unit. The buyer made the acquisition as part of a 1031 exchange.
The building, located at 12...
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