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• Downtown Long Beach Apartment Property Sells for Just Under $10 Mil
1/10/17
A Westchester, CA-based private investor paid $9.7 mil for Ocean Plaza, a 44-unit ($220.5k/unit) apartment property within the East Village Arts District of Downtown Long Beach. The property was sold by Santa Monica-based Jod...
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• Investor Pays $8.7 Mil for San Diego Res Portfolio
1/10/17
A three-property, 35-unit apartment portfolio located in San Diego’s North Park and University Heights neighborhoods sold for $8.7 mil, or $249k/unit. The properties total 24k sf and are located at 4366-72 and 4374-80 Mississ...
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• $62 Mil Res Development Completed at Edge of Downtown L.A.’s South Park
1/09/17
OLiVE DTLA, a $62 mil, seven-story, residential mixed-use project in downtown Los Angeles, has been completed. The 384.5k sf project is a development of The Wolff Company and was built by Barnards.
OLiVE DTLA is located at t...
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• Investor Makes $20 Mil Purchase of San Diego-Area Res Community
1/09/17
Terra at Mission Trails Apartments, a 90-unit residential property in San Diego’s Mission Valley area, traded hands in a $20 mil ($222k/unit) transaction. The community is situated on 3.44 acres at 7707 Mission Gorge Rd, nort...
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• Walker & Dunlop Structures $15 Mil Freddie Mac Refi on Los Angeles Apartment Property
1/06/17
Walker & Dunlop Inc has structured a $15 mil refi loan with Freddie Mac for The Harvey, an early 1920s vintage, mid-rise multifamily building in Los Angeles. The 57.7k sf property consists of four stories with street accessib...
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• Steadfast Apartment REIT II Closes Third TX Apartment Buy
1/05/17
Steadfast Apartment REIT III Inc (STAR III) has closed its third acquisition, paying $44.5 mil ($174k/unit) for Canyon Resort at Great Hills, a 256-apartment-home community located in Austin, TX.
Built in 1997, Canyon Resort...
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• Glendale Apartment Property Traded in $54 Mil Transaction
1/05/17
Interstate Equities Corporation (IEC) has acquired a 126-unit multifamily property in Glendale for $54.2 mil ($430k/unit). The property, currently known as Verdugo Village, will be rebranded and renamed as Towne at Glendale.
...
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• Luxury Res Project to Get Underway in Westminster, CO
1/05/17
Legacy Partners and Diamond Realty Investments have teamed up in a joint venture to develop Legacy on the Promenade, a luxury res project consisting of 276 apartment homes and 24 town homes in Westminster, CO. Construction wi...
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• Oakland Apartment Building Sold as Value-Add Opportunity
1/04/17
The Davis-Coit apartments, a 117-unit multifamily complex in Oakland, sold for $8 mil ($68.4k/unit) in a recent transaction. The property is located at 1445 Harrison Ave, a couple of blocks west of Lake Merritt.
A historical...
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• Summerlin Primed for another Big Year of Activity in 2017
1/04/17
After a record-setting 2016, the coming year’s expectations are high for activity at Summerlin, the 22.5-acre, master-planned community that spans the western rim of the Las Vegas valley at the foot of Red Rock Canyon. The co...
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• Private Investor Buys 300-Unit Res Asset in Colorado Springs, CO
1/04/17
The Vineyards, a 300-unit, Class A apartment community in Colorado Springs, CO, was purchased by a private real estate investment and development company. The transaction was financed with a $41 mil acquisition loan arranged ...
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• San Diego Apartment Property Sells for $287k/Unit
1/03/17
The Van Dyke Apartments, an eight-unit res complex located in the Kensington neighborhood of San Diego, traded hands at a price of $2.3 mil, or $287.5k/unit. The property is located at 4344 Van Dyke Ave.
The Spanish-style pr...
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• The Bascom Group Closes $38.5 Mil Res Buy in Las Vegas
12/30/16
The Bascom Group LLC has closed out 2016 with their second end-of-year Las Vegas res buy, this one being Spectrum Apartments, a 252-unit luxury multifamily community that they acquired for $38.5 mil, or $153k/unit. The proper...
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• ASB Real Estate Investments Pays $83 Mil for Newly Built Res/Retail Project in Santa Monica
12/29/16
ASB Real Estate Investments wrapped up an $83 mil res buy in Santa Monica with its purchase of a recently constructed, two-building, Class A apartment/retail complex. The property was purchased from CG Seventh Street LLC, a j...
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• MG Properties Picks Up 330 Res Units in Scottsdale, AZ
12/28/16
MG Properties closed out 2016 with an institutional-quality multifamily buy in Arizona, paying $51 mil for Broadstone Scottsdale Horizon, a 330-unit ($155k/unit) rental community in one of the most coveted neighborhoods in No...
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• The Bascom Group Closes on 90-Unit Las Vegas Res Buy
12/28/16
The Bascom Group LLC has just acquired Pebble Cove Apartments, a 90-unit, garden-style apartment community in Las Vegas, for $9.1 mil, or $101k/unit. The property is located at 5101 O’Bannon Dr, west of Decatur Blvd and north...
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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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