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• East Bay Multifamily Briefs
3/24/10
WALNUT CREEK (Alameda County) – Satellite Housing acquired a 19.6k sf land parcel at 2618 Baldwin Lane for $895k ($45/sf). The acquisition represents the third of four pieces to be assembled by Satellite Housing in partnersh...
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• Local Investor Acquires 56-Unit Apartment Complex in LA’s Beverly Grove Area
3/23/10
Terraces at the Grove, a 56-unit luxury apartment complex located within a few blocks of the Beverly Center in the Beverly Grove area of Los Angeles, was acquired by a local family buyer for $12.8 mil, or about $228.6k/unit. ...
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• Chino Hills Apartment Complex Named Community of the Year
3/22/10
Legacy Partners’ Missions at Chino Hills was awarded Community of the Year and Kathleen Blackburn received Assistant Manager of the Year honors at the APEX Awards, the Apartment Association of Greater Inland Empire’s (AAGIE) ...
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• Pathfinder and Pittman Launch New Colorado Opportunity Fund
3/19/10
Pathfinder Partners LLC, a San Diego-based company that invests in distressed real estate and defaulted loans, has joined forces with Denver’s Pittman Development Group to launch the Pittman Pathfinder Colorado Opportunity Fu...
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• Multifamily Sales Comps
3/18/10
FULLERTON (Orange County) -- Briarhill, a 128-unit apartment complex in Fullerton, was purchased by Angelo Gordon Real Estate for $16.1 mil ($126k/unit). The property is located at 140 West Hill Ave, west of Harbor Blvd and n...
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• LA Investor Pays $3.8 Mil for Most Units at Broken Inland Empire Condo Project
3/15/10
In a recent Inland Empire sale of a distressed condo development, an LA investor paid $3.8 mil – or $105.6k/unit -- for 36 vacant condo units at a 40-unit development in Rialto. The property, Rialto Arrow Terrace, is located ...
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• Long Beach Apartment Property Acquired by Foreign Buyer for $106k/Unit
3/12/10
A 17-unit apartment community in Long Beach recently sold for $1.8 mil, or about $105.9k/unit. The property sold at a cap rate of 7.3%, with a 21-day escrow. It is located at 1762 East 3rd St, north of Broadway and west of Ch...
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• CA First-Time Home Buyers Reaches 47% in 2009
3/11/10
Affordable home prices, tax credits for home buyers, historically low interest rates, and a large number of distressed properties prompted many first-time home buyers to enter the market in 2009, according to a recently relea...
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• Western National Property Management Lands Six New SoCal Assignments
3/10/10
Gardena-based MCA Housing Partners LLC recently awarded third-party management contracts for six multifamily properties to Western National Property Management, which already manages 13 other properties for MCA. Western Natio...
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• Seattle-Area Apartment Complex Trades for $23 Mil
3/09/10
The Cove, a 312-unit apartment complex located in Federal Way, WA, was purchased by Kirkland-based Weidner Apartment Homes for $23 mil, or about $73.7k/unit. The property, which was sold by Prometheus Real Estate Group, is lo...
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• GSP Arranges $5.6 Mil Refi on SF Valley Apartment Complex
3/08/10
George Smith Partners (GSP) arranged refinancing of $5.655 mil on an 80-unit apartment complex in the San Fernando Valley. The 1960s-vintage, garden-style property is over 95% occupied. The two-story complex features a mix of...
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• Venice Beach Development Site Sells in 16 Days
3/04/10
A mixed-use development site on the Strand in Venice traded hands at a price of $325/sf, one of the most expensive sales on a per square foot basis in the area for many years. The oceanfront property, located at 305-309 South...
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• LA Investor Acquires Some of that Hollywood Magic
3/03/10
A local real estate investment entity acquired Franklin Pointe Apartments, a three-story, 53-unit multifamily property in the heart of Hollywood. The complex is located at 1825 North Cherokee Ave, three blocks east of Highlan...
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• New Mixed-Use Project Planned for San Dimas
3/02/10
Entitlement processing has been completed on a new $45 mil mixed-use project in the eastern San Gabriel Valley city of San Dimas. Called Bonita Canyon Gateway, the development will cover just over 8.5 acres and has received $...
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• 148-Unit Apartment Community Near UC Davis Sells for $15 Mil
3/01/10
A 148-unit apartment community in Davis, CA was purchased by a NoCal investor for $15.1 mil or about $102k/unit. The property, Stonegate Village, is located at 2950 Portage Bay West, east of Hwy 113 and just north of Russell ...
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• Yardi Grows with RentGrow
2/25/10
Yardi Systems has purchased RentGrow Inc, a leading provider of online resident screening services for multifamily property management firms. Yardi acquired the Waltham, Mass-based company so it could offer resident screening...
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• Apartment Internet Marketing Conference Offers New Industry Solutions
2/23/10
This year’s Apartment Internet Marketing (AIM) Conference will be held at the Hyatt Regency Huntington Beach Resort and Spa in Huntington Beach on April 28-30. AIM 2010 features cutting-edge business education designed to hel...
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• Investors Pick Up Bay Area Multifamily Assets
2/22/10
In a recent multifamily investment buy from San Mateo, an eight-unit apartment building sold for $1.66 mil, or $206.9k/unit. The two-story building, which was 100% occupied at time of sale, is located at 3235 Glendora Dr, sou...
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• Entry-Level Home Affordability in CA at 64%
2/17/10
The percentage of households that could afford to buy an entry-level home in California remained at 64 percent in the fourth quarter of 2009, compared with 61 percent (revised) for the same period a year ago, according to the...
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• NoHo Multifamily Property Sells for Nearly $6 Mil
2/16/10
A 44-unit apartment community in North Hollywood was acquired by a Los Angeles-based investment entity for $5.8 mil ($131.8k/unit). The property, the Simpson Avenue Apartments, is located at 7526 Simpson Ave, south of Saticoy...
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