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May 27, 2024
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MULTIFAMILY NEWS
Archive
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• Seattle Apartment Complex Lands $53.5 Mil Refi
4/04/23
Cypress Apartments, a 237-unit, six-story, Class A, market rate apartment complex in Seattle’s Yesler Terrace community, has been refinanced with new permanent financing of $53.5 mil. The property, located at 120 Broadway, wa...
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• Insight Investment Partners Spends Over $8 Mil on 28-Unit Multifamily Property in El Cajon
4/04/23
Insight Investment Partners paid $8.12 mil for Easter Manor Apartments, a 28-unit ($290k/unit) multifamily property in El Cajon. Built in 1987, the property is located at 1113 Greenfield Dr. The two-story walk-up style apa...
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• New Standard Equities Obtains $19.8 Mil Refi on Washington Multifamily Property
4/03/23
New Standard Equities (NSE) has secured a $19.8 mil refi loan on Village Fair Apartment Homes in Bremerton, WA. This was the third refinance of the 120-unit property since its purchase for $13.1 mil in December 2016. Its appr...
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• Construction Started on 292-Unit San Gabriel Valley Res Community
4/03/23
Work has started on Solana at Duarte Station, a new 292-unit five-story luxury apartment community located in the San Gabriel Valley city of Duarte. The project, which includes an eight-story parking structure, is a developme...
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• San Diego Area Mixed-Use Project Sells for Nearly $1,000/sf
3/31/23
A mixed-use project in downtown Rancho Santa Fe sold for $11.2 mil. The project, located at 6106-6108 Paseo Delicias and 6012-6016 La Granada, about eight miles east of Encinitas in San Diego County, consists of 11.9k sf ($94...
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• Local Law Firm Pays $2.9 Mil for Studio City Mixed-Use Property
3/31/23
A 6.6k sf mixed-use property in Studio City traded for $2.9 mil, or $437/sf. The property, situated on an 8.3k sf lot at 3611 Cahuenga Blvd, consists of a residential triplex built in 1960 and five units of office space built...
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• Positive Investment Spends $8 Mil on 34 Res Units in Lawndale
3/31/23
Positive Investments wrapped up a SoCal res buy, paying $8.21 mil for The Lawndale Portfolio, two multifamily assets totaling 34 units ($241.5k/unit) in the L.A.-area city of Lawndale. The properties were 94% occupied at the ...
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• Cornerstone Communities Acquires 44 Acres in Otay Mesa for All-Electric Res Development
3/30/23
Cornerstone Communities has purchased 44 acres of land in Otay Mesa, where it will build 450 all-electric townhomes for entry-level buyers called Candlelight. Land preparation will begin as early as September and the communit...
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• Haven Warner Center Res Community Trades in $54 Mil Transaction
3/29/23
Haven Warner Center, a 205-unit multifamily asset in Warner Center, a master-planned neighborhood and business hub in the western San Fernando Valley, sold for $54 mil, or $263.4k per unit. Completed in 1985, Haven Warner Ce...
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• Apartment Property in L.A.’s Mar Vista Area Sells for Over $500k/Unit
3/29/23
The Coral Tree Apartments, a 31-unit, 35.9k sf apartment complex in the Mar Vista area of Los Angeles, sold for $15.875 mil, or $512k per unit. The property is located at 4225 Inglewood Blvd, just south of Washington Blvd on ...
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• Western Spire Pays $6,78 Mil for 1.8-Acre Development Site in Rancho Cucamonga
3/29/23
Western Spire paid $6.78 mil for a 1.82-acre multifamily development site at the northwest corner of Red Oak St and Spruce Ave in Rancho Cucamonga. The property is within City Center, an area of Rancho Cucamonga zoned for fut...
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• New 300-Unit Anaheim Res Community Now Under Construction
3/29/23
Construction is underway at Zia, a five-story wrap-style apartment community located in Anaheim. The project is a development of MBK Rental Living, in a joint venture with Haseko Corporation. Offering upscale living with eas...
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• KeyCity Capital Picks Up 142-Unit Multifamily Community in Farmers Branch, TX
3/28/23
KeyCity Capital has acquired Villa Gardens, a 142-unit multifamily property in Farmers Branch, TX. The price was not given out. Villa Gardens is a pet-friendly community located at 2730 Fyke Rd, just east of the I-35 Express...
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• Golden Bee Properties Wraps Up $39.5 Mil Res Buy in Sylmar
3/28/23
Golden Bee Properties purchased Mountain View Manor, a 200-unit LIHTC multifamily property in the northeast San Fernando Valley community of Sylmar, for $39.5 mil ($197.5k/unit). The property is located at 12960 Dronfield Ave...
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• Orange County and Eastern LA are Two of the Most Competitive Markets for Apartments in California
3/27/23
This report provided by RentCafe, a division of Yardi.com Orange County and Eastern LA are not only the toughest markets for apartment searching in California, but they also rank as the 11th and 20th most competitive in the ...
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• The Mogharebi Group Opens New Offices in Las Vegas, NV and Albuquerque, NM
3/22/23
The Mogharebi Group (“TMG”) has opened two new offices in Las Vegas, NV and Albuquerque, NM. Bill Ketcham and Robert Gallegos, who combined have more than 45 years of real estate investment experience, will lead the two offic...
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• GPI Companies Set to Build 200-Unit Res Community in West Los Angeles
3/16/23
A GPI Companies affiliate has secured $84 mil in construction financing for Overland and Ayres, a 201-unit, multi-housing development in West Los Angeles. The project, located at 2455 Overland Ave, is scheduled for completion...
more » 

• TerraLane Communities and Franklin Mountain Investments to Start Work on Texas Build-to-Rent Community
3/15/23
TerraLane Communities, in a venture with Franklin Mountain Investments, purchased 94 single-family “finished” lots within the Campo del Sol masterplan in the El Paso, TX area for the development of a new premier rental home c...
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• West Los Angeles Apartment Building Trades for $428k per Unit
3/14/23
The Glendon Apartments, a 27-unit apartment building in the Palms area of West Los Angeles, sold for $11.55 mil, or $428k/unit. The property, located at 3724 Glendon Ave, was sold by JEB Properties Inc. Built in 1986, the we...
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• Work Starts on 380-Unit Colorado Res Community
3/14/23
Legacy Metro 525, a 380-residence, transit-oriented apartment community coming to Aurora, CO, has just broken ground. The project, a development of Legacy Partners and Griffin Capital Company LLC, is anticipated for completio...
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