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• San Diego Res Comp Goes for $207k/Unit
8/18/16
Waring Gardens Apartment Homes, a 36-unit residential property in San Diego, was purchased by East Eight LLC for $7.45 mil, or $207k/unit. The property is located at 5320-5340 Adobe Falls Rd, off I-8 in the city’s Grantville ...
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• CIM Group Starts Work on 34-Story Res Tower in Downtown LA
8/17/16
CIM Group has commenced construction of a 34-story apartment tower with 6k sf of ground floor retail space and a public pocket park at 888 S. Hope St in downtown Los Angeles. The building is rising at the corner of 9th St an...
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• AZ Res Community Sells for $80 Mil
8/17/16
Passco Companies LLC has acquired Almeria at Ocotillo, a 389-unit, Class A luxury multifamily complex within the Ocotillo master-planned community in Chandler, AZ, for $80 mil ($205.7k/unit). The property, located at 2470 and...
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• Four Recent LA Value-Add Multifamily Sales Total $17 Mil
8/16/16
Here’s a quick update on four recent multifamily sales in LA’s Hollywood and Koreatown areas. The transactions totaled over $17 mil.
In one of the deals, a 30-unit property at 730 S. Serrano sold for $7.5 mil ($250k/unit). B...
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• Demand for SoCal Multifamily Housing Still Rising
8/12/16
Demand for multifamily housing in Southern California continued rising in the first half of 2016, absorbing much of the newly completed supply in most markets, according to NAI Capital’s latest Multifamily Market Outlook Repo...
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• Commercial Real Estate Financing Briefs
8/12/16
GEORGE SMITH PARTNERS – Jonathan Lee, David Stepanchak and Adam Candler of George Smith Partners arranged $34 mil in non-recourse money for the ground-up development of a residential and retail mixed-use project in San Franci...
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• Santa Monica Apartment Property in Need of Maintenance Goes for $350k/Unit
8/11/16
Los Angeles-based NMS Properties paid $2.45 mil for a seven-unit apartment property in Santa Monica that was 80% vacant at the time of sale. The property is located at 1446 Yale St, near Broadway Ave.
The seller was a privat...
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• Downtown LA Mixed-User Breaks Ground
8/11/16
MacFarlane Partners has broken ground on the first phase of its Park Fifth development in Downtown Los Angeles. The first phase will be a seven-story, mixed-use apartment building consisting of 313 units totaling 221k sf alon...
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• Anaheim Multifamily Property Sells for $212k/Unit
8/10/16
French Country Apartments, a 33-unit residential property in Anaheim, traded hands for $7 mil ($212k/unit).
French Country, built in 1986 and situated on 1.19 acres, consists of seven, two-story residential buildings, a swi...
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• Hollywood Mixed-Use Development Receives Certificate of Occupancy
8/09/16
Camden USA Inc has obtained a certificate of occupancy for The Camden, a 287-unit, mixed-use urban infill project at 1540 North Vine St in Hollywood. The project was designed by TCA Architects and built by Bernards.
Situated...
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• San Fernando Apartment Property Goes for $186k/Unit
8/09/16
In a recent multifamily sales comp from the west San Fernando Valley, a 36-unit apartment building in Winnetka sold for $6.7 mil, or $186k/unit. The property, located at 7255 Winnetka Ave, was sold by a local private investo...
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• 200-Unit Res Property in San Diego Trades Hands
8/08/16
SARES-REGIS Multifamily Value-Add Fund II, L.P. has purchased Mission Trails Apartments, a 208-unit multifamily property in San Diego. The price was not disclosed.
Mission Trails Apartments is located at 6975 Golfcrest Dr, w...
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• Santa Monica Mixed-User Goes for $681/sf
8/08/16
A 23.5k sf, mixed-use property in Santa Monica traded hands for $16 mil, or $681/sf. The property, originally constructed in 1922 and 1927, is located at 1101-1115 Wilshire Blvd, at the corner with 11th St.
The property cons...
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• Denver Affordable Housing Property Sells for $20.5 Mil
8/05/16
Hamilton Zanze Real Estate Investments recently closed on an affordable housing acquisition in Colorado, paying $20.5 mil for Diamond at Prospect, a 140-unit ($146.4k/unit) multifamily property in Denver.
Security Properties...
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• Universe Holdings Acquires Full Ownership of 300-Unit San Bernardino Res Complex
8/05/16
Universe Holdings has acquired controlling interest and full ownership of the Acacia Park apartment community in San Bernardino from its special service partner following a strategic recapitalization. The asset, today valued ...
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• HFF Arranges $16.8 Mil in Construction Money for Vancouver, WA Res Development
8/04/16
HFF has arranged $16.8 mil in construction financing for the development of Heritage Villas, a 135-unit, Class A garden-style apartment project in Vancouver, WA. The borrower is a partnership between developer Gregg Mecham an...
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• San Jose Affordable Housing Project Comes Online
8/04/16
Oak Grove Apartments, a $34 mil, affordable housing development in San Jose, has officially opened to residents, with the complex fully leased. The project, which provides 134 units of permanently affordable housing to low-in...
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• The Bascom Group Buys 152-Unit Inland Empire Res Asset
8/02/16
The Bascom Group LLC has acquired Del Flora Apartments, a 152-unit, garden-style apartment community in the Inland Empire city of Redlands. The property, located at 30598 Independence Ave, north of I-10 at the intersection of...
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• Decron Properties Group Buys 349-Unit, OC Res Property
8/02/16
Decron Properties Corp has acquired Adagio at South Coast, a 349-unit multifamily apartment community in Santa Ana, for $96 mil ($275k/unit). The property was sold by Prime Residential.
Adagio at South Coast is a garden-sty...
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• L.A. Multifamily Project Approved by City Planning Commission
8/01/16
The Los Angeles City Planning Commission unanimously approved a residential development proposed for 8150 Sunset Blvd by LA-based developers Townscape Partners. The project, situated at the entrance to the city’s popular Suns...
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