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• Temecula Apartment Buy Financed with $49 Mil Acquisition Loan
8/25/16
MIG Real Estate financed its recent acquisition of Cape May at Harveston, a 300-unit, Class A apartment community in Temecula, with a $48.8 mil loan arranged by CBRE and provided by Fannie Mae.
Built in 2006, the garden-sty...
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• Management of 300-Unit CO Multifamily Property Goes to Mission Rock Residential
8/25/16
Mission Rock Residential LLC has been awarded the management assignment for Dove Valley Apartments, a 312-unit residential property in Englewood, CO. The property is owned by the Rubino Family.
Dove Valley Apartments offers ...
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• Advanced Real Estate Services Pays $16.5 Mil for 63-Unit Rental Property in Riverside
8/25/16
Advanced Real Estate Services Inc (ARES) has acquired Tuscan Townhomes, a 63-unit res property in Riverside, for $16.47 mil, or $261k/unit. The property, built as condominiums from 2007 to 2010 but rented as apartments, is ad...
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• Capital One Provides $10.5 Mil Freddie Mac Refi on SoCal Res Portfolio
8/25/16
Capital One has provided four Freddie Mac five-year hybrid small balance loans totaling $10.5 mil to refinance a portfolio of four Southern California properties. The borrower was Positive Investments, which owns and operate...
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• Lincoln Ventures to Start Work on 42-Unit Student Housing Project for University of Texas
8/24/16
Lincoln Ventures has obtained a $14.5 mil construction loan for development of The Ruckus, a 42-unit and 167-bed student housing project in the West Campus area of the University of Texas. The loan was arranged by El Segundo...
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• LaTerra Development Gets Underway With Two SoCal Res Projects
8/24/16
LaTerra Development, a Los Angeles based real estate developer, has started construction on two infill apartment projects totaling 325 units in Santa Ana and Chula Vista. Each project was capitalized with institutional join...
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• Kennedy Wilson Acquires 82-Year Leasehold Interest in 386-Unit, Ventura County Res Property
8/23/16
Kennedy Wilson has acquired a 386-unit multifamily community in Ventura County. The property, University Glen, is a Class A apartment complex in the city of Camarillo. It traded for $81 mil, or $210k/unit.
The transaction,...
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• Interstate Equities Corporation Closes on $46 Mil Bay Area Multifamily Buy
8/23/16
In a recent institutional multifamily acquisition in the Bay Area, Interstate Equities Corporation (IEC) has acquired a 137-unit, value-add property in Milpitas for $46 mil ($336k/unit). The property, formerly called Meritage...
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• Two LA Area Apartment Assets Trade in Deals Totaling Nearly $20 Mil
8/23/16
Two apartment properties in the Greater Los Angeles area traded hands in recent transactions by the same seller that totaled about $20 mil. Sandra Manor Trust, a privately held multi-family community investor and operator, so...
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• Walker & Dunlop Structures $49 Mil in Three Freddie Mac Loans on Utah Student Housing Properties
8/22/16
Walker & Dunlop Inc recently structured three loans totaling $48.75 mil on Utah student housing facilities utilizing Freddie Mac financing. The loans were for The Lodges at Glenwood, Raintree Commons, and Cambridge Court, all...
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• Transit-Oriented Res Development Completed in LA’s Chinatown
8/19/16
Blossom Plaza, a transit-oriented, mixed-use development on Broadway near the "Gateway" of Los Angeles’ historic Chinatown district, has been completed. The project, a development of Forest City, was designed by architect Joh...
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• 53-Acre Parcel in Scripps Ranch Acquired for New Continuing Care Retirement Community
8/19/16
A 53-acre land parcel in Scripps Ranch was acquired in an $18.5 mil transaction by Continuing Life Communities, a Carlsbad-based retirement community management company. Continuing Life plans to use the land for the developm...
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• 300-Unit Temecula Res Community Trades Hands
8/19/16
In a recent OC res buy, MIG Real Estate purchased Cape May at Harveston, a 300-unit garden-style apartment community in Temecula. The property is situated near upscale shopping and dining, central to area high-tech and biotec...
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• Santa Monica Apartment Building Sells for $450k/Unit
8/18/16
A fully occupied, six-unit apartment property in Santa Monica sold for $2.7 mil, or $450k/unit. The property is located in the prime, north of Wilshire area, just one block south of Montana Ave, at 919 20th St.
Built in 1950...
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• Legacy Partners and The Resmark Companies to Develop 168-Unit Res Project in San Diego’s Marina District
8/18/16
Legacy Partners and The Resmark Companies have teamed up to build a 168-unit res project in the highly desirable Marina District of downtown San Diego. Located at 372 4th Ave, adjacent to San Diego Bay, the five-story residen...
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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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