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• $3 Mil in Renovation and Rebranding Completed on Four Phoenix Multifamily Assets
3/10/16
San Diego-based Sunrise Management has wrapped up more than $3 mil in renovation work and rebranding of four Phoenix area multifamily properties. The assets were recently acquired by San Francisco-based 29th Street Capital fo...
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• Scottsdale, AZ Res Community Changes Hands in $13 Mil Deal
3/09/16
Winfield of Scottsdale, a 95-unit apartment community in Scottsdale, AZ, was acquired by The tanbic Co in a recent $13 mil ($136.8k/unit) sale. Originally constructed in 1978, the property consists of nine buildings at 8021 E...
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• ROEM Development Corp Pays $22 Mil for Bay Area Affordable Housing Complex
3/09/16
ROEM Development Corporation purchased Delta View Apartments, a 205-unit affordable housing property in the Bay Area city of Antioch, for $22.05 mil ($108k/unit). The transaction was a re-syndication of Section 42 Low Income...
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• Work Started on Pacific City Res Development that Will Add Over 500 Units to Huntington Beach
3/09/16
UDR Inc has begun work on a 516-unit res development in Huntington Beach. The new project, situated in the heart of the Pacific City area at 21002 Pacific Coast Highway, just east of the new Pacific City shopping and dining d...
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• Albuquerque Multifamily Property Refinanced with $15.5 Mil Freddie Mac Loan
3/08/16
Prime Residential has obtained $15.5 mil in refi money for Prairie Hills Apartments, a 260-unit apartment community in Albuquerque, NM. The property is located at 1001 Tramway Blvd, east of I-25 and just north of I-40.
Buil...
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• Universe Holdings Refinances Seven Multifamily Properties
3/08/16
Universe Holdings recently completed the refinancing of seven multifamily properties encompassing 125 units in transactions totaling $14.32 mil. HFF structured the loans on behalf of Universe through Freddie Mac, with five-ye...
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• Sunroad Enterprises, Security Properties and Loma Linda University Acquire 264-Unit Res Property in Sparks, NV
3/08/16
A joint venture between Sunroad Enterprises, Security Properties and Loma Linda University has acquired Bristol Bay, a 97 percent occupied, Class A, 264-unit apartment complex located in the Sparks submarket of Reno, NV.
Lo...
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• Mesa West Provides $73 Mil for Two AZ Multifamily Loans
3/07/16
In two separate transactions, Mesa West Capital has funded $73.3 mil in floating rate non-recourse loans secured by multifamily communities in Phoenix, AZ.
In the larger of the two deals, Mesa West provided a joint venture ...
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• Former Catalina Swimwear Building in Downtown LA Sells for $20 Mil
3/04/16
Statewide Corp has purchased the Catalina Building, a 92.4k sf building in downtown Los Angeles’ Toy District, for $20.05 mil ($217/sf). The property is located at 443 S. San Pedro St, west of Alameda St and south of 4th St.
...
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• Costa Mesa Multifamily Property Trades for Record $571k/Unit
3/04/16
A six-unit multifamily asset in Costa Mesa recently traded in a $3.4 mil deal that averaged out to $571.7k per unit, a record for multifamily assets in the city, we’re told. The sale commanded a capitalization rate of 4.27 pe...
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• M3 Multifamily Refinances Round Rock Apartment Property
3/03/16
Santa Barbara-based M3 Multifamily has obtained $8 mil in refi money on Links at Forest Creek, a 220-unit, garden-style apartment community in Round Rock, TX.
Located 22 miles northeast of Austin, Links was originally deve...
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• Major Mixed-User Proposed for San Jose
3/03/16
Shorenstein Properties and Prometheus Real Estate Group have partnered in a proposed development for San Jose’s west side that could ultimately add 360k sf of office space along with over 800 res units, 15k sf of retail space...
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• Standard Portfolios Closes 396-Unit AZ Apartment Buy
3/03/16
In an institutional-quality multifamily buy in Arizona, Standard Portfolios LLC has acquired Country Brook, a 396-unit, Class A apartment community in the city of Chandler. The complex is located at 4909 W Joshua Blvd, north ...
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• Trumark Homes and GTIS Partners to Build 139 Single-Family Homes in Dublin
3/02/16
Trumark Homes and GTIS Partners have acquired one neighborhood subdivision within Wallis Ranch, the highly-anticipated master planned development under construction in the Bay Area city of Dublin. The neighborhood, “Fielding”...
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• San Diego Apartment Property Sells for $370k/Unit
3/02/16
In a recent multifamily sales comp from San Diego, a six-unit, 4.5k sf property sold for $2.225 mil, or around $370k/unit. The asset consists of two land parcels totaling 12.4k sf and situated just half-a-block from Mission B...
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• TruAmerica Multifamily Wraps Up Second Vegas Area Apartment Acquisition
3/02/16
TruAmerica Multifamily has teamed up with an institutional investor in the purchase of Montego Bay, a 420-unit, Class B apartment community in the Las Vegas submarket of Henderson. The property sold for $51.1 mil, or about $1...
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• Local Investor Buys Long Beach Apartment Property
2/29/16
A 16-unit apartment property in Long Beach sold for $2.375 mil ($148.4k/unit) in an off-market transaction. The asset, located at 226 Gaviota Ave, a block north of Broadway between Orange and Cherry Aves, was acquired by a Lo...
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• Investor Pays $366k/Unit for Redwood City Apartment Complex
2/29/16
A private investor with Asian capital has acquired a 34-unit apartment complex in Redwood City for $12.45 mil, or $366.2k/unit, in an all-cash deal. The property is located at 475 and 485 Redwood Ave, west of El Camino Real. ...
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• Hometown America Buys Bay Area Res Property with $11.5 Mil Acquisition Loan
2/26/16
Hometown America has acquired Spanish Ranch II, a 187-home site, 100-percent occupied, manufactured home community for seniors (age 55+) in the San Francisco Bay Area community of Hayward.
The purchased was funded with $11....
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• HFF Arranges $95 Mil for OC Seniors Housing Community Development
2/25/16
HFF has arranged $95.5 mil in joint venture equity and construction financing for the development of Crestavilla, a 211-bed, to-be-built, luxury, resort-style seniors housing community located in the Orange County community o...
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