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• Investor Pays $164k/Unit for Res Property in Baldwin Park
2/28/17
Kimberly Apartments, a 26-unit residential property in Baldwin Park, sold for $4.275 mil, or $164.4k/unit. The property, located at 14521 Clark St, traded at what we’re told is a record 3.19% cap rate.
Built in 1964, the pro...
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• WA Multifamily Community Traded in $38 Mil Deal
2/27/17
Arbor Terrace, a 276-unit multifamily community in Port Orchard, WA, was purchased by a newly formed joint venture of New Standard Equities (NSE) and an affiliate of Brixton Capital in a recent $38.15 mil ($138.2k/unit) deal....
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• Two Historic Apartment Properties in San Francisco’s Pacific Heights Fetch $62 Mil
2/24/17
Two luxury apartment buildings with a combined 88 units in San Francisco’s upscale Pacific Heights neighborhood sold for $62 mil, or an average of just over $700k per unit, to separate buyers. In these deals, a 38-unit buildi...
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• Res Property in San Diego’s La Mesa Area Sells for $167k/Unit
2/24/17
La Casita Apartments, a 44-unit residential property in La Mesa, has sold for $7.35 mil, or $167k/unit. The property is located at 7130 Waite Dr, in the East County submarket of San Diego County.
Amenities at La Casita Apart...
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• Tristar Capital Buys 350k sf, Silicon Valley Office Asset Leased to Apple
2/23/17
Tristar Capital has acquired Crossroads III, an office property located at 410, 420, and 430 N. Mary Ave in Sunnyvale. The purchase was financed with a $232.56 mil loan provided by Natixis.
The acquisition consists of three...
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• Victorville Apartment Portfolio Trades for $85k/Unit
2/22/17
Sagebrush Capital Holdings, out of Denver, acquired a two-property, fully occupied apartment portfolio totaling 320 units in Victorville in a recent transaction with a price tag of $27.4 mil ($85.6k/unit). The seller in the d...
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• Senior Housing Complex in Orange Traded in $13.5 Mil Deal
2/21/17
Reiner Communities purchased Triangle Terrace, a 75-unit senior living apartment building in the city of Orange. The property, located at 555 S. Shaffer, was sold by Orange Senior Housing Inc in a deal worth $13.5 mil, or $18...
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• Residential Project Completed in LA’s Central City West Neighborhood
2/21/17
Astani Enterprises has completed work on Wilshire Valencia, a six-story, 218-unit residential development in LA’s Central City West neighborhood. The project, designed by Santa Monica-based KFA, is located at 1515 Wilshire Bl...
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• Res Property Along Oxnard Beach Sells for Over $22 Mil
2/20/17
Paz Mar Select, a 90-unit, waterfront multifamily property in Oxnard, sold in a recent $22.25 mil ($247k/unit) transaction. Built in 1971, the property is located at 4220 S. Harbor Blvd, south of Wooley Rd by Oxnard Beach.
R...
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• Wells Fargo Office Tower in Santa Ana to Be Transformed into a Live/Work/Play Urban Village
2/17/17
Professional Real Estate Services (PRES) has announced plans to redevelop the existing Wells Fargo office tower property at 2700 Main Street in Santa Ana into a sustainable live-work-play environment whose centerpiece will be...
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• Champion Real Estate Buys Res Property in Seattle’s South Lake Union Area
2/17/17
Champion Real Estate Company recently purchased Union Bay Apartments, a 73-unit multifamily apartment community with 3k sf of commercial space in Seattle’s South Lake Union area. The property was acquired by an affiliate of C...
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• Legacy Partners and USAA Real Estate Company Break Ground on Luxury Res Project in Denver
2/17/17
Legacy Partners and USAA Real Estate Company have broken ground on TriVista on Speer, a 2.3-acre luxury apartment development in Denver. The project, previously known as Legacy on Speer, will offer 322 units over seven floors...
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• Two Long Beach Apartment Properties Trade in $6 Mil Deal
2/16/17
A two-property, 36-unit apartment portfolio adjacent to downtown in Long Beach has sold for $6.15 mil, or $171k/unit.
The properties are both two-story and were built in 1964 and renovated in 2009. One of the properties, 1...
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• Portland Housing Bureau Acquires 263-Unit Res Asset
2/16/17
The Portland Housing Bureau closed on a newsworthy residential buy in the city of Portland, paying $47 mil for The Ellington, a 263-unit ($179k/unit) apartment community. The asset was acquired from Guardian Real Estate Servi...
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• Washington Multifamily Community Sold in $35 Mil Transaction
2/15/17
Security Properties purchased Beaumont Grand, a 267-unit, garden-style multi-housing community in Lakewood, WA for $35.2 mil ($132k/unit), free and clear of any existing debt. The property was sold by Grand Peaks Properties a...
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• Res Portfolio in LA’s Mid-Wilshire Area Hits the Market
2/15/17
Lion Real Estate Group LLC has just listed for sale a portfolio of four 1920s vintage apartment complexes totaling 141 units in LA’s Mid-Wilshire submarket. The asking price is $27.2 mil.
The offering represents an in...
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• Transwestern Development Co and Allstate Teaming Up to Build 345-Unit Res Community in Phoenix
2/15/17
Transwestern Development Co and Allstate acquired a 3.2-acre site in Phoenix, where they plan to develop a 345-unit multifamily community. The project, tentatively called City Center on the Park, is scheduled to break ground ...
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• Ontario Multifamily Comp Comes in at $182k/Unit
2/14/17
Suncrest Apartments, a 22-unit apartment property located in Ontario, was purchased by a private investor partnership in a recent $4.01 mil ($182.2k/unit) transaction. The property, located at 1908 South Mountain Ave, was bui...
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• Historic Res Building in LA’s Koreatown Area Sells for $172k/Unit
2/13/17
The Ashmont, a 50-unit, historic Art Deco apartment building in Los Angeles’ Koreatown District, was purchased by Vista Investment Group in an $8.6 mil ($172k/unit) deal. Koreatown has become one of the more popular multifami...
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• Shopoff Realty Investments and Argosy Real Estate Partners Pick Up Anaheim Property for Res Redevelopment Project
2/10/17
Shopoff Realty Investments, in a venture with an Argosy Real Estate Partners-managed fund, have acquired a 20.5-acre property in Anaheim for redevelopment to residential use. This is the third land development opportunity tha...
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