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• SmartStop Asset Management Affiliate Spends $70 Mil on NV Student Housing Property
12/23/16
SmartStop Asset Management LLC facilitated the acquisition of The Summit, a 186-unit, 709-bed Class “A”, purpose-built student housing community located adjacent to the University of Nevada, Reno (UNR) campus. The asset was a...
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• Newly Constructed Res Community in Santee Trades in $56 Mil Deal
12/23/16
R&V Management Corporation recently closed on the $56.6 mil purchase of Parc One @Santee, a 172-unit ($329k/unit), Class A apartment community in Santee. The property, constructed in early 2016, was sold by Intergulf - JMR LL...
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• PCCP LLC and Griffis Residential Venture Buys 332-Unit CO Res Property
12/22/16
A joint venture between PCCP LLC and Griffis Residential has acquired a 332-unit residential community in Littleton, CO known as Monterey Apartments. The joint venture is renovating the asset, located at 4601 S Balsam Way, a...
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• TruAmerica Multifamily Collects $275 Mil from Sale of Four Res Assets
12/20/16
TruAmerica Multifamily has collected $275 mil from the sales of four apartment communities located in the Seattle and San Francisco Bay Area markets. These deals capped an active fourth quarter in which the Los Angeles-based ...
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• Sequoia Equities Buys 400-Unit Res Asset in Washington
12/19/16
Sequoia Equities Inc has acquired The Carriages at Fairwood Downs, a 400-unit, apartment building in Renton, WA. The property was developed in 1986 and is comprised of 436.6k sf of space in 36 two- and three-story residential...
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• Clippinger Obtains Over $6 Mil in Financing for Its Recent Purchase of Historic LA Apartment Property
12/19/16
Clippinger Investment Properties has obtained $6.17 mil in acquisition and restoration financing for its recent $6.4 mil purchase of the Marathon Apartments, a four-story, 43-unit ($149k/unit) apartment property in Hollywood....
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• Community Preservation Partners Acquires 280-Unit Housing Complex in Cathedral City
12/16/16
Community Preservation Partners (CPP) has acquired Mountain View Apartments, a 280-unit housing complex in Cathedral City, and has begun an $11.3 mil rehabilitation project that will improve the living conditions of hundreds ...
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• Work Begins on Luxury Condo Project in Downtown Mountain View
12/15/16
Regis Homes Bay Area has begun construction on 1101 West, a luxury condominium community located at 1101 West El Camino Real in downtown Mountain View. The developer, in partnership with Tricon Capital, is constructing a fou...
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• Hometown America Finances San Diego Area Manufactured Home Community with $5.8 Mil Loan
12/15/16
Hometown America has obtained $5.8 mil in financing for Oak Tree Ranch, a 126-home site, all-age manufactured home community in the San Diego County community of Ramona. The five-year, fixed-rate, full-term, interest-only acq...
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• San Diego Area Res Complex Sells for $327k/Unit
12/14/16
Boulder Ridge Villas, an 11-unit rental community in the San Diego submarket of Ramona, sold for $3.6 mil, or $327k/unit. The property, located at 1918 and 1922 Kelly Ave, was purchased by Block Builders Investment Group.
Bu...
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• Greystone Provides $16 Mil in Freddie Mac Money on Riverside Multifamily Property
12/13/16
Greystone has provided a $15.9 mil Freddie Mac Targeted Affordable Housing loan for the permanent takeout of a Greystone bridge loan on the Highlander Point multifamily property in Riverside, CA. The 132-unit workforce housin...
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• ColRich Multifamily Venture Pays $94 Mil for Newly Constructed, 416-Unit Res Community in Utah
12/13/16
A ColRich Multifamily-led venture recently closed on the $93.9 mil acquisition for Cobblegate at Quarry Bend, a newly constructed 416-unit multifamily community in the Salt Lake City suburb of Sandy, UT. The transaction was f...
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• Stewart Weston Joins CBRE Capital Markets
12/08/16
Stewart I. Weston has joined CBRE Capital Markets as executive vice president. Based in Newport Beach, Weston will focus on enhancing the firm’s institutional multifamily investment sales presence across Southern California.
...
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• Multifamily Property in L.A.’s Palms Area Fetches $500/sf
12/08/16
Keystone Manor, a nine-unit apartment complex in the Palms area of West L.A., sold for $3.95 mil, or about $438k/unit. We’re told that the price of $503/sf set a new record high on a price per square foot basis for non-rent c...
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• Vegas Luxury Res Property Sells for Over $200k/Unit
12/08/16
Loft 5, a 241-unit ($213.7k/unit) luxury multifamily asset in Las Vegas was sold in a recent $51.5 mil transaction. The property was purchased by Steppe Bros Loft 5 LLC.
Located off I-15 just 10 minutes from the Las Vegas St...
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• Adjacent Beverly Hills Apartment Buildings Sell for $566k per Unit
12/07/16
A Beverly Hills-based private family trust recently purchased two adjacent 1920’s Beverly Hills apartment communities, totaling 10 units, in a $5.66 mil transaction. The deal works out to a price of $566k/unit and a cap rate ...
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• Van Nuys Res Buy Financed with $4.5 Mil Acquisition/Bridge Loan
12/06/16
D2 Squared Properties, LLC has obtained a $4.5 mil acquisition/bridge loan for a 39-unit, 23.9k sf multifamily property in Van Nuys. The property is located at at 14137 Vanowen St, east of Van Nuys Blvd.
Built in 1963, the g...
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• Oceanfront Hawaii Resort Development Financed with $96 Mil Loan
12/06/16
HFF has arranged $96 mil in financing for the development of Timbers Kaua’i – Ocean Club & Residences, a private oceanfront residence club within the planned Hokuala Resort in Lihue on the Hawaiian island of Kaua’i. The const...
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• LA City Planning Commission Approves Plans for New Campus at Los Angeles LGBT Center
12/05/16
The Los Angeles City Planning Commission has unanimously approved plans for the Los Angeles LGBT Center’s new Anita May Rosenstein Campus in Hollywood. Slated for opening in early 2019, the revolutionary new campus will serve...
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• Kennedy Wilson Wraps Up $363 Mil in Multifamily Transactions
12/05/16
Kennedy Wilson recently completed a series of separate multifamily transactions totaling $363 mil. These included: the acquisition of Alara Hedges Creek, a 408-unit apartment community built in 1998 in a suburb of Portland, O...
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