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• Unimproved Parcel along Wilshire Blvd’s Golden Mile in LA Sells
5/26/16
A partnership led by Galvic Construction recently acquired 888 Devon Ave in Westwood for an undisclosed sum. The property is one of the last unimproved parcels along Wilshire Boulevard’s Golden Mile.
Los Angeles-based Galvic...
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• Investor Pays $162k/Unit for Inglewood Apartment Property
5/26/16
A locally-based private investor paid $3.08 mil for a 19-unit ($162k/unit) apartment property in Inglewood, in an off-market transaction. The transaction closed at a 4.08 percent cap rate.
Built in 1960, the property is loc...
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• Sacramento Res Property Trades for $9.8 Mil
5/25/16
River Walk Villas, a 65-unit, Class A multifamily community located in Sacramento, recently sold for $9.8 mil, or $150.8k/unit, in an off-market transaction. Built in 2007, the asset is located at 631 Garden Hwy.
River Walk ...
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• Berkeley Apartment Property Fetches $478k/Unit
5/24/16
An eight-unit apartment building in Berkeley sold for $3.825 mil, or $478.1k/unit and $590/sf. From what we’ve been told, both the price per unit and the price per square foot are likely records for apartments in Berkeley bui...
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• Weidner Apartment Homes Buys 514-Unit AZ Res Community
5/20/16
Weidner Apartment Homes purchased Desert Horizon Apartments, a 514-unit apartment community located at 16636 North 58th Street in Scottsdale, AZ. The acquisition was financed with a $53.5 mil loan arranged by CBRE Capital Mar...
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• J.P. Morgan Asset Management and SARES-REGIS Group Land $130 Mil in Financing on Two Thousand Oaks Res Properties
5/20/16
HFF has arranged $129.78 mil in financing for two Class A apartment communities, The Knolls and Westlake Canyon, totaling 672 units in Thousand Oaks. The borrower is a joint venture between institutional investors advised by ...
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• American Realty Advisors Buys 300-Unit CO Res Property
5/20/16
American Realty Advisors has acquired a newly-constructed, 314-unit multifamily property located in the Union Station submarket of Downtown Denver. The price was not disclosed.
The building also features 58k sf of ground fl...
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• Downtown LA Res Tower Gets Underway
5/20/16
A 24-story, mixed-use high-rise project in downtown Los Angeles has just broken ground. The $164 mil project, 732 Spring Street, is being developed by a joint venture owned by North America Sekisui House, LLC (NASH), and deve...
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• Seattle Res Project Lands $44 Mil in Construction Money
5/19/16
Newmark Realty Capital Inc has arranged $44.28 mil in construction financing for 624 Yale Apartments, a 206-unit res project in the South Lake Union area of Seattle. Specific terms of the loan were not disclosed.
The propert...
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• OR Manufactured Home Community Trades at a 4% Cap Rate
5/17/16
Summer Oaks, a 102-unit, manufactured home community in Eugene, OR, sold for $10.4 mil, or $102k/unit. The asset is situated on 21.8 acres at 3220 Crescent Ave, west of I-5 and north of Randy Pape Beltline.
Summer Oaks is a...
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• Skya Ventures Inc Gelt Ventures LLC Pay $238k/Unit for Apartment Property in LA’s Highland Park Neighborhood
5/16/16
A joint venture of Skya Ventures Inc and Gelt Ventures LLC has acquired a 60-unit, non rent-controlled apartment property in Highland Park, a historic neighborhood in Northeast Los Angeles, for $14.25 mil ($237.5k/unit). The...
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• CPP to Rehabilitate and Preserve 205 Affordable Housing Units in New Mexico
5/13/16
Community Preservation Partners (CPP) has begun renovations on six New Mexico affordable housing complexes, totaling 205 units, owned by Western States Housing Corporation. The transaction closed in April, with work expected ...
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• Downtown Los Angeles Res Complex Lands $115 Mil Refi Loan
5/13/16
George Smith Partners has arranged $115.3 mil in cash-out refinancing for The Orsini II, a 566-unit Class A multifamily apartment community in downtown Los Angeles. The property was developed by Geoff Palmer and is managed by...
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• Two-Property Portfolio in Belmont Shores Sells for $4.4 Mil
5/12/16
A two-property, 22-unit apartment portfolio in the Belmont Heights submarket of Long Beach was sold for $4.4 mil ($200k/unit) to two buyers in separate transactions. The seller, Long Beach-based Colonna Trust, was in the midd...
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• TruAmerica Multifamily and Berkshire Group Team Up in Laguna Niguel Res Buy
5/11/16
TruAmerica Multifamily and an affiliate of Berkshire Group have acquired Career Lofts, a newly constructed 142-unit Class A apartment community at 28150 Cabot Road in Laguna Niguel, in an off-market transaction. The price wa...
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• Historic Mixed-Use Property in Southwest Portland Sells for $2.3 Mil
5/10/16
Northwest Communities LLC purchased the Corbett Building, an historic, mixed-use building in southwest Portland, for $2.25 mil. The property is located at 5901-5915 Corbett Ave, a few blocks away from the busy thoroughfare of...
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• Escondido Multifamily Asset Trades for $16.5 Mil
5/10/16
In a San Diego area multifamily investment buy, Vista International Inc purchased Estancia Apartments, a 100-unit asset located at 725 N. Fig St in Escondido, less than a mile from the city’s downtown. The property was sold b...
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• Newmark Realty Capital Arranges $23 Mil in Construction Money for Santa Cruz Mixed-Use Project
5/09/16
Newmark Realty Capital has arranged $22.9 mil in construction financing for 555 Pacific, a ground up mixed-use development in Santa Cruz. The property, currently under construction with an anticipated completion in late 2017,...
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• Exchange Investor Spends $40 Mil on SoCal Res Portfolio
5/05/16
An LA-based private investment entity paid $40.5 mil for a multifamily portfolio that includes eight buildings with 484 units ($84k/unit) spanning three SoCal counties.
All of the properties sold are considered to be value-...
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• TruAmerica Multifamily and Investcorp Close $57 Mil Phoenix Res Buy
5/04/16
TruAmerica Multifamily and institutional capital partner Investcorp have acquired Little Cottonwoods, a 379-unit multifamily community in Tempe, AZ for $56.7 mil ($150k/unit). This is the third and largest multifamily investm...
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