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• Two Desirable Covered Land Listings in West Hollywood Hit the Market
4/19/23
Here’s the scoop on two covered land play opportunities in the city of West Hollywood. The listings, both on Fairfax Ave, are being marketed by Andrew Levant of Kennedy Wilson Real Estate Sales & Marketing.
Presently, 1019 N...
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• Fresno Multifamily Property Trades for $124k/Unit
4/18/23
Northbrook Apartments, a 92-unit, garden-style multifamily community in Fresno, sold for $11.4 mil, or about $124k/unit. The single-story complex is located at 584 E. Bullard Ave.
Northbrook Apartments offers a mix of one- a...
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• Historic Building in Downtown Los Angeles Acquired for Conversion into a Boutique Hotel
4/18/23
The Garfield Building, a 12-story, 102.2k sf historic structure in downtown Los Angeles, was acquired by a Bay Area investor in a $19 mil transaction. The deal closed on March 31, ahead of the enactment of Los Angeles’s prope...
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• Affordable Housing Project Gets Underway in Ontario
4/17/23
Related California has broken ground on Emporia Housing, a 50-unit affordable housing project in Ontario. The development, expected to reach completion by mid-Summer 2024, is being built by R.D. Olson Construction. Danielian ...
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• MG Properties Completes $67 Mil Res Buy in Colorado
4/17/23
MG Properties closed on the purchase of Ridge at Castle Rock Apartments, a 204-unit res community in Castle Rock, a Colorado town located south of downtown Denver, for $67.15 mil ($329k/unit). The property, formerly known as ...
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• Champion Real Estate Company Secures $40 Mil Refi on OC Student Housing Property
4/14/23
Champion Real Estate Company has refinanced University Village Fullerton, a 121 unit/427-bed student housing property in Fullerton, with a new loan for $40.5 mil. The property is located at 2000 Oxford Ave, just north of Yorb...
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• Commercial Real Estate Financing Briefs
4/14/23
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL -- Tom Turnage and Joe Galosic, Jr with Bellwether Enterprise originated a $58 mil loan to finance a luxury apartment community in Santa Barbara County. The property is a best-in-clas...
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• Res Property in L.A.’s Koreatown Neighborhood Goes for $238k/Unit
4/13/23
Gramercy Townhouse, a 30-unit in L.A.’s Koreatown neighborhood, traded hands in a $7.15 mil ($238.3k/unit) deal. Located at 430 S. Gramercy Place, Gramercy Townhouse is a three-story apartment building with a mix of studio, o...
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• Capital Improvement Program Well Underway at 597-Unit Marina del Rey Res Community
4/11/23
Equity Residential recently embarked on a $45 mil capital improvement program at Pearl Apartments, a 597-unit multifamily community in Marina del Rey, and has completed the first 87 upgraded residences. The asset is owned by ...
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• Newport Beach Apartment Property Goes for $720k/Unit
4/11/23
A five-unit multifamily complex in Newport Beach traded in a $3.6 mil deal, which works out to $720k per unit. Constructed in the 1970s, the property is located at 800-808 Amigos Way, just west of Jamboree Rd.
The complex is...
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• Fresno Multifamily Property Sells for $300k/Unit
4/11/23
Birch Commons, a 49-unit multifamily property in Fresno, sold for $14.75 mil ($301k/unit). Located on 4.77 acres at 1850 E. Birch Ave, Birch Commons is a townhome-style apartment community with a unit mix of one-, two-, and t...
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• Warner Center Property Goes for $137/sf in Land Value
4/07/23
CBRE brokered the sale of 6036 Variel Avenue in Woodland Hills, a 1.21-acre multifamily mixed-use development site within Warner Center, for $7,200,000 which equates to $137 per square foot for the land.
CBRE's Laurie Lusti...
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• Brixton Capital Buys 144-Unit Apartment Community in San Antonio
4/07/23
Brixton Capital has acquired The Atlee, a 144-unit, 157.5k sf multifamily community in the Olmos Park submarket of San Antonio, TX. The price was not disclosed.
The Atlee, located at 402 Holland Ave, features premier interi...
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• The Sutton Opens Its Doors in Portland
4/07/23
The Sutton, a new, high-end waterfront apartment complex in Portland’s North Pearl District, has officially opened to the public. The 236-unit project is a development of Lincoln Property Company.
The Sutton is a 17-story re...
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• Legacy Partners and The Resmark Companies Break Ground on 336-Unit TX Apartment Project
4/06/23
Legacy Partners and joint venture partner The Resmark Companies have broken ground on Legacy Gateway, a new 336-residence apartment community coming to Forney, TX.
The 14-acre site for Legacy Gateway is located at 1205 Gat...
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• Local Developer Buys 1.5-Acre Site in South Seattle
4/06/23
A 1.5-acre development site in South Seattle was acquired by locally-based real estate development, investment and management firm Bode in a $2.1 mil, all-cash deal. The buyer plans to develop a 330-unit housing project on th...
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• Advanced Real Estate Acquires Iconic Edison Tower in Downtown Long Beach
4/04/23
Advanced Real Estate has acquired the iconic Edison - a 12-story former office tower in Downtown Long Beach. The price was not immediately disclosed.
The property sits one block from Ocean Blvd at the terminus of the Metro R...
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• DMJ Capital Partners Closes $11.6 Mil Res Buy in San Diego’s Spring Valley Area
4/04/23
San Diego based DMJ Capital Partners LLC has purchased a value-add multi-family project consisting of 44 units for $11.65 mil ($265k/unit). The project is located at 3827 Conrad Dr in the Casa de Oro-Mount Helix neighborhood...
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• Seattle Apartment Complex Lands $53.5 Mil Refi
4/04/23
Cypress Apartments, a 237-unit, six-story, Class A, market rate apartment complex in Seattle’s Yesler Terrace community, has been refinanced with new permanent financing of $53.5 mil. The property, located at 120 Broadway, wa...
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• Insight Investment Partners Spends Over $8 Mil on 28-Unit Multifamily Property in El Cajon
4/04/23
Insight Investment Partners paid $8.12 mil for Easter Manor Apartments, a 28-unit ($290k/unit) multifamily property in El Cajon. Built in 1987, the property is located at 1113 Greenfield Dr.
The two-story walk-up style apa...
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