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• Archway Equities and Virtú Investments Wrap up $74 Mil Res Buy in San Jose
9/21/23
A joint venture of Archway Equities and Virtú Investments has acquired The James, a 190-unit, Class A Apartment Community in downtown San Jose, for $74.25 mil, or $391k/unit.
The James represents Archway’s second significant...
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• Perpetual Housing Fund of Utah and Rocky Mountain Homes Fund Buy Salt Lake City Office Tower
9/20/23
The Perpetual Housing Fund of Utah, in partnership with Rocky Mountain Homes Fund, purchased 515 Tower, a 171.2k sf office building at 515 East 100 South in Salt Lake City. The property was sold by Nearon Enterprises, a priva...
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• TruAmerica Multifamily Buys OC Multifamily Community in $103 Mil Deal
9/19/23
TruAmerica Multifamily purchased Nineteen01, a 264-unit apartment asset in Santa Ana, in a $102.9 mil ($390k/unit) transaction. The Class A property, which was acquired in partnership with PCCP LLC at a significant discount t...
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• Calvera Partners buys 192-Unit Multifamily Property in Forth Worth, TX
9/19/23
Calvera Partners recently acquired Saddlehorn Vista Apartments in Fort Worth, TX. This purchase is Calvera's first acquisition in the Dallas-Fort Worth metro (DFW) and the final acquisition in its third value-add investment f...
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• Apartment Property in East Los Angeles Sells for $140k/Unit
9/15/23
An eight-unit apartment property located in East Los Angeles traded for $1.12 mil, or $140k per unit. The deal closed at $229.89/sf with a cap rate of 4.24% and a gross rent multiplier of 13.62.
Built in 1929, the value-add ...
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• Blue Lake Capital Buys 432-Unit Apartment Complex in Phoenix
9/14/23
Blue Lake Capital has purchased Arcadia Cove, a 432-unit multifamily community in Phoenix. The price was not given out.
Built in 1996, Arcadia Cove features a 24-hour fitness center, a resort-style swimming pool and spa area...
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• Cityview and Stockbridge Start Work on 265-Unit Res Project in L.A.’s South Bay
9/14/23
Construction is underway on Apollo, a 265-unit multifamily development in Los Angeles’ South Bay. Slated to complete in 2025, the LEED Silver, transit-oriented development is located in a high-growth area of the South Bay nea...
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• MG Properties Pays $90 Mil for Bay Area Res Community
9/14/23
MG Properties acquired Artist Walk Apartments, a 185-unit res community in Fremont, for $89.75 mil. The development, constructed in 2017, includes 30k sf of ground-floor retail.
Artist Walk Apartments is located at 3888 Arti...
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• Gelt Venture Partners Buys 125-Unit OC Res Community for $63 Mil
9/12/23
Gelt Venture Partners LLC (GVP) has acquired Union Place, a 125-unit multifamily community in the Orange County city of Placentia, for $63.15 mil ($505.2k/unit). The property is situated on just over five acres at 1500 Cherry...
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• Advanced Real Estate Spends $96 Mil on Huntington Beach Res Community
9/11/23
Advanced Real Estate closed on a $96 mil res buy in Huntington Beach. The company bought a 264-unit ($363.6k/unit) property formerly known as Citron House, located at 7701 Warner Ave, just west of Beach Blvd.
The property,...
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• Tempe, AZ Apartment Community Refinanced with New Loan for $16.5 Mil
9/11/23
Lakeview at the Bay, a 370-unit, Class B apartment complex in Tempe, AZ, has been refinanced with a new permanent loan for $16.5 mil. Built in 1985, the 34-building complex is located at 995 E. Baseline Rd in Tempe, a Metro P...
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• Phase 1 of Riverwalk San Diego Awarded $41 Mil Grant from Affordable Housing and Sustainable Communities
9/08/23
A transformative development that will create energy-efficient affordable housing alongside a new Trolley station in Mission Valley is the only San Diego County project awarded funding this year from a leading-edge State of C...
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• Multifamily Construction Slows as Rent Growth Eases and Access to Money Tightens
9/08/23
This update provided by real estate services firm Institutional Property Advisors
Institutional Property Advisors (IPA) has published a new national report, Pullback in Multifamily Construction Starts. Below is a quick look ...
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• New Res Tower in L.A.’s Koreatown Opens to the Public
9/07/23
Hallasan, a new high-rise apartment tower in the heart of Koreatown, has opened to the public. The project, located at 696 S. New Hampshire Ave, was developed by Holland Partner Group.
MVE + Partners, renowned for their inno...
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• IDM Companies Obtains $62.6 Mil in Construction Money for Phoenix Res Project
9/06/23
IDM Companies has landed $62.625 mil in construction financing for Meritum Sonoran Desert, a 348-unit, garden-style multi-housing development in Phoenix. The financing was arranged by JLL Capital Markets and funded through a ...
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• Whittier Apartment Community Sells for Over $30 Mil
9/06/23
Citrus Court, a 138-unit apartment community in Whittier, sold for $31.25 mil, or $226k/unit. The garden-style community, located at 8121 Broadway Ave, is encumbered by a 99-year ground lease with 41-years remaining.
Built i...
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• Culver City Mixed-Use Project Sells for Over $29 Mil
9/01/23
The Oliver, a mixed-use property with 30 multifamily units and 8.7k sf of ground-floor retail space in Culver City, recently traded hands for $29.25 mil, or $780k per unit. Built in 2016, the property is located at 11955 W. W...
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• ColRich Buys 228-Unit Res Property in Bend, OR
8/29/23
ColRich has purchased Seasons at Farmington Reserve, a 228-unit multifamily community in Bend, OR. The seller was Seattle-based Security Properties.
Located at 61560 Aaron Way, the garden-style community was built in 2017 an...
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• Oakland Apartment Trade Works Out to $242k/Unit
8/28/23
An apartment trade in Oakland consisting of two side-by-side twenty-four-unit apartment buildings came in at $11.65 mil, or $242.7k/unit. The properties, located at 237-263 41st St, offer a mix of one- and two-bedroom units.
...
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• JRK Property Holdings Pays $93 Mil for 300-Unit Multifamily Community in San Jose
8/28/23
JRK Property Holdings has acquired Duo Apartments, a 301-unit Class A multifamily community in San Jose, for $93.5 mil ($310k/unit). The purchase was financed with a loan for $62 mil.
Duo marks the third acquisition out of ...
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