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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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• CSI Construction to Build 137-Unit Assisted Living Facility in Monument, CO
7/17/17
An affiliate of CSI Construction secured a $28.2 mil construction loan for Jackson Creek Senior Living, a 137-unit assisted living facility they intend to develop between Denver and Colorado Springs in Monument, CO. The loan ...
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• San Bernardino Multifamily Property Generates Multiple Offers Before Selling for $123k/Unit
7/14/17
An unnamed private investor out of Los Angeles paid $9.75 mil for Country Club Apartments, a 79-unit ($123.4k/unit) multifamily community in San Bernardino. Built in 1986, the property sits on a 5.44-acre site at 160 East Par...
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• Trumark Homes to Launch Two Res Communities in the Inland Empire
7/13/17
Trumark Homes is moving forward with two new Inland Empire residential communities – Founders in Chino Hills and another new project in Ontario. The two new developments will offer 76 new single-family homes and 114 new condo...
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• Advanced Real Estate Services Secures $100 Mil Refi on Long Beach Multifamily Property
7/11/17
Advanced Real Estate Services Inc (ARES) has obtained a $100.7 mil refi loan from Freddie Mac on Lakewood Manor Apartments, a 570-unit multifamily property in Long Beach.
ARES acquired the original 565-unit Lakewood Manor A...
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• Fowler Property Acquisitions Buys 185-Unit Apartment Complex
7/10/17
Fowler Property Acquisitions has purchased the leasehold interest in The Village at Morena Vista, a 185-unit multifamily complex in San Diego, for $65 mil. The property also contains 18.8k sf of on-site retail, including dail...
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• RPM Investments Buys 40-Unit Res Property near Downtown L.A.
7/10/17
Greenwich West Apartments, a 40-unit apartment building in Downtown Los Angeles’ Westlake District, traded for $5.3 mil, or $134k/unit. The buyer was RPM Investments.
Greenwich West Apartments contains 33 studio apartments, ...
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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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