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• Equity Residential Acquires 138-Unit Bay Area Complex
12/06/10
Equity Residential recently closed on a large Bay Area apartment acquisition. The big multifamily REIT purchased Skyline Terrace, a 138-unit, 174.4k sf complex in Burlingame, just south of San Francisco in San Mateo County. T...
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• La Mirada LIHTC Property Sells for $16 Mil
12/03/10
Somerset Glen, a 161-unit, 97k sf Section 42 Low-Income Housing Tax Credit (LIHTC) property located at 13380 Hillsborough Dr in La Mirada, traded hands for $16.1 mil, which represents a price of $100k per unit and $161 per sq...
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• Alliance Picks Up Glendale Res Development Site
12/02/10
In a sign that the multi-unit residential market may be picking up, at least in the eastern part of the San Fernando Valley, Alliance Residential Company has acquired the ICIS Glendale property, a fully entitled and building ...
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• Canyon-Johnson Acquires Bank-Owned Mixed-Use Project in Oakland
12/01/10
Canyon-Johnson Urban Funds (CJUF) has acquired Thomas Berkley Square, a recently completed bank-owned property with 88 residential units and ground floor retail in Oakland’s Uptown District. CJUF intends to market and sell th...
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• CA Homes Sales Decline in Oct
11/30/10
Statewide home resale activity in California declined 3.5 percent in October to a seasonally adjusted annualized rate of 450,360, down from September’s revised pace of 466,930, according to the latest info collected by the Ca...
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• Industry Investment in Multifamily Product Expected to Pick Up in the Coming Year
11/29/10
The apartment sector of the commercial real estate market appears to have hit its stride and is expected to benefit in the coming year, according to owners, investors and developers surveyed in Jones Lang LaSalle's yearly 201...
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• Pair of East Valley Multifamily Properties Ring Up to Over $11 Mil
11/24/10
In recent multifamily sales comps from the San Fernando Valley, Albert Shilton of Charles Dunn Company negotiated the sale of two apartment complexes, in Studio City and North Hollywood, in related deals totaling $11.4 mil. T...
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• Cohen Financial Arranges Over $20 Mil for Two West Coast Deals
11/24/10
Real estate capital services firm Cohen Financial arranged a couple of interesting West Coast transactions, in Arizona and Washington, worth mentioning. In one of the deals, the company secured a $17.55 mil loan for the acqui...
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• Non-Profit Acquires Two Hollywood Properties
11/23/10
Step Up on Second, a nonprofit organization providing psychosocial rehabilitation and support to people affected by severe and persistent mental illness, acquired two Hollywood properties for a combined price tag of $3.85 mil...
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• Investor Spends Over $7 Mil on Two Mesa Manufactured Home Communities
11/22/10
Two neighboring manufactured home communities in Mesa, AZ were acquired by a Tucson investment partnership for a combined price of $7.2 mil. The properties, Imperial Manufactured Housing Park and Broadmoor Manufactured Housin...
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• Carlsbad Multifamily Property Sells for $4.6 Mil
11/19/10
Tamarack Shores, a 27-unit apartment property In Carlsbad, sold for $4.6 mil ($170k/unit). The property is located at 351-57 Tamarack Ave, west of I-5, just a couple of blocks from the beach.
Tamarack Shores consists of 1...
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• Exchange Investor Sells Westwood Property and Acquires Costa Mesa Building
11/18/10
Here’s a look at a recent 1031 exchange involving two SoCal multifamily properties. The transaction consisted of the sale of an 18-unit apartment building at 1420 Kelton Ave in Los Angeles, and then the proceeds were used to ...
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• New $137 Mil UCI Student Housing Project Receives LEED Gold Certification
11/17/10
American Campus Communities $137 mil student housing project at the University of California, Irvine (UCI) has been completed and has been awarded Gold Certification under the U.S. Green Building Council's LEED rating system....
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• CA Home Affordability near Record High Levels
11/16/10
Historic low rates and lower median home prices means you should buy today!
Housing affordability among first-time home buyers improved slightly in the third quarter of 2010, both on a quarter-to-quarter and year-to-year bas...
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• Santee Claus Arrives Early for Essex Property Trust
11/16/10
In the second of two notable, neighboring multifamily/mixed-use asset sales in downtown Los Angeles, Palo Alto-based Essex Property Trust acquired Santee Court, a 165-unit adaptive reuse property, for $31.1 mil in an all-cash...
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• Sycamore Urban Properties Completes WeHo Condo Project
11/15/10
In just 10 months, a previously moth-balled condo project in the heart of West Hollywood has been completed and has opened its doors to new home buyers. The project was completed by Sycamore Urban Properties, who acquired the...
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• Colorado Investment Firm Acquires $40 Mil Loan on a Beaver Creek Ski Resort Condo Development
11/12/10
Louisville, CO-based Condo Capital Solutions purchased the $40 mil loan that had been in default for the five-star residential property in Beaver Creek known as Gates Residences. Located at the base of Beaver Creek resort in...
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• Brooktree Realty Investors Spends $26 Mil on San Fernando Valley Multifamily Property
11/12/10
Brooktree Realty Investors closed on a very newsworthy multifamily investment buy in the San Fernando Valley, paying $26.05 mil for the Magnolia Nest condominium complex, a 97-unit ($269/unit) rental property. The property is...
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• Deutsche Bank Provides $161Mil on Pool of 11 Multifamily Properties in Seven States
11/11/10
Deutsche Bank Berkshire Mortgage (DBBM) recently provided a fund managed by Eaton Vance Management with a $161.5 mil loan to acquire a pool of 11 multifamily properties located across seven states.
The 11 individual loans we...
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• Whittlesey Doyle Negotiates Land Sales of 335 Acres Over Past Two Months
11/10/10
Over the last 60 days the firm of Whittlesey Doyle has negotiated eight separate land sale deals totaling roughly 335 acres throughout SoCal. The transactions encompass over 1,500 lots and units, and have a combined value of ...
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