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• Newmark Arranges $38 Mil on San Jose Apartment Complex
3/03/11
Newmark Realty Capital arranged financing in the amount of $38 mil on the Fruitdale Station apartment complex, a 246-unit, Class A apartment community in San Jose. Located at 1590 Southwest Expwy, just north of the intersect...
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• Apartment Building in LA’s Silverlake Area Sells for $146k/Unit
3/03/11
A 16-unit multifamily property in the trendy Silverlake area of Los Angeles was purchased by Thorofare Capital for $2.332 mil ($146k/unit). The building is located at 2352 Glendale Blvd, a couple of blocks east of Silverlake ...
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• Investor Spends $1.7 Mil on Three LA-Area Apartment Properties
3/02/11
Three bank-owned multifamily properties in the Baldwin Village section of Los Angeles sold for $1.725 mil, or $74/sf. The properties are located at 4122, 4130 and 4136 Palmwood Dr, south of Rodeo Rd and east of La Brea Ave.
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• Private Investors Trade Bakersfield Mobile Home Park
3/01/11
Bakersfield Mobile Home Park, a 60-site mobile home park located in Bakersfield, sold for $1.496 mil in a transaction that included $230k park-owned homes and notes. Located at 3219 Gulf St, Bakersfield Mobile Home Park is c...
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• HFF Arranges $13 Mil for Three WA Manufactured Housing Communities
2/28/11
The HFF team representing WCM included senior managing director Tim Wright and associate director Zach Koucos. “We garnered interest from multiple capital sources on these three transactions; evidence that the capital marketp...
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• 200-Unit Washington Multifamily Complex Trades for Over $18 Mil
2/24/11
In a major Washington state multifamily sale, Waterford Place, a 200-unit property located in the Silver Lake area of Everett, sold for $18.2 mil, or $91k/unit. We’re told that the transaction represents the largest multi-fam...
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• The Siegel Group Acquires Package of 18 Multifamily Properties in Las Vegas
2/23/11
The Siegel Group Nevada Inc has acquired 18 multi-residential properties as part of a packaged sale. The properties, which are comprised of 15 four-unit buildings and three six-unit buildings, were recently foreclosed upon a...
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• Calabasas Investor Closes $16 Mil Norwalk Apt Buy
2/22/11
Calabasas-based Cirrus Asset Management has purchased Capistrano Garden Apartment Homes for $16 mil. The 120-unit ($133/sf) apartment community is located on a 125k sf lot at 13811 Shoemaker Dr, east of I-5 and north of Rose...
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• New Senior Workforce Res Development Set to Open in Rancho Palos Verdes
2/18/11
Mirandela, a new 34-unit senior workforce development in Rancho Palos Verdes, is set to officially open in early March of this year. It is a development of Calabasas-based AMCAL Multi-Housing Inc.
As Rancho Palos Verdes’ fir...
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• Portland Multifamily Asset Lands Just Under $17 Mil in First TD Money
2/17/11
NorthMarq Capital’s San Diego Regional office arranged first mortgage financing of $16.93 mil for 2121 Belmont Apartments, a 123-unit multifamily property located at 2121 SE Belmont St in Portland, Oregon. Financing was based...
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• Kennedy Wilson / DRA Advisors Venture Closes on $68 Mil NoCal Apt Buy
2/17/11
Kennedy Wilson, along with an affiliate of DRA Advisors and with Kennedy Wilson Property Fund III, has acquired Enclave at Adobe Creek, a 492-unit community in the Sonoma County city of Petaluma. Kennedy Wilson also joined fo...
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• SoCal Multifamily Portfolio Purchased by Three Buyers for Over $103 Mil
2/16/11
A four-property, 575-unit SoCal multi-family property portfolio sold for a combined price of $103.4 mil to three different buyers. They were sold by the Roy E. Daly Company.
The portfolio’s four assets include Sunridge Pines...
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• Zephyr Partners Acquires San Diego Townhome Development Site
2/15/11
Here’s a couple of interesting residential development news notes from San Diego County. In the first newsbrief, Zephyr Partners purchased a 27.7k sf development site at 1030 Pearl St in San Diego. The site, which is entitled...
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• Capstone Advisors Picks Up 20 Lots in Upscale La Quinta Community
2/11/11
Capstone Advisors, a Southern California-based real estate investment, development and asset management company, recently purchased the largest lots in the Griffin Ranch master-planned community located in the Riverside Count...
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• San Diego Res Development Acquired by Mountain Real Estate Capital / Davidson Communities Venture
2/11/11
A joint venture between Mountain Real Estate Capital (MREC) and Davidson Communities LLC has acquired the Fairbanks Country Villas development in San Diego, representing the second purchase by the partnership in the region. T...
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• AMCAL Set to Open Its Fourth San Joaquin Valley Multi-Housing Community
2/11/11
Summer Hill Place, a new 50-unit family workforce development in Fresno, is slated to open on February 16, 2011. The project was developed by SoCal-based AMCAL Multi-Housing Inc and represents the company’s fourth San Joaquin...
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• $220 Mil of SoCal Apt Sales in 45 Days
2/10/11
In just the last 45 days HFF has closed four SoCal multi-housing community sales totaling 1,123 units. The transactions have a combined price tag of $220 mil. The properties include: 416 on Broadway in Glendale, The Hills at ...
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• OC Apartment Community Fetches Over $50 Mil
2/09/11
A venture of Phoenix Realty Group and MG Properties Group has acquired the 402-unit Crystal View apartment community in Garden Grove for $53 mil ($132k/unit), on behalf of a PRG institutional real estate fund. Crystal View is...
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• Invesco Closes Out 2010 with $79 Mil Portland Apartment Buy
2/08/11
Built in 1983, the property has eight levels of apartments, along with ground-floor retail space. The transaction was designed to preserve the Section-8 Housing Assistance Payments contract and was completed with the use of t...
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• Walker & Dunlop Provides Funding for Two NoCal Multifamily Refi Deals
2/07/11
Walker & Dunlop LLC provided funding for two recent NoCal multifamily financing transactions, one in Campbell and the other in Santa Rosa. Each deal was for roughly $10 mil.
In Campbell, Walker & Dunlop provided a $10.2 mil ...
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