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• Equity Residential Closes Seattle Mixed-Use Acquisition
2/12/10
Equity Residential acquired Rianna I and Rianna II, neighboring properties in Seattle that contain a combined 156 apartment homes and retail units including Starbucks and Subway. Built in 2000 and 2002, the properties are loc...
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• AMCAL to Unveil New Senior Affordable Community in Palmdale
2/11/10
Palo Verde Terrace, a new 78-unit senior affordable community in Palmdale, is about to open to the public. Designed by Withee Malcolm Architects, Palo Verde Terrace is part of the City of Palmdale’s Civic Center Master Plan ...
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• Westside Multifamily Properties Sell for Over $250k/Unit
2/08/10
The Harratt Apartments, a 21-unit property located at 8819 Harratt St in West Hollywood, sold for $5.4 mil ($257k/unit). The Class A, non-rent-controlled property is located steps from the Sunset Strip. The property features ...
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• Pair of Newport Beach Multifamily Properties Fetch $3 Mil
2/05/10
Two Newport Beach multifamily properties with a total of 12 units sold for a combined $2.97 mil ($247.5k/unit). The properties are the six-unit Bedford Apartments, located at 1601 Bedford Lane, which sold for $1.46 mil ($243....
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• Inland Empire Multifamily Investment Activity Expected to Increase Due to Jump in Distressed Listings
2/04/10
The local housing industry downturn will continue to adversely impact the apartment supply/demand balance in the Inland Empire this year, though operational performance will depend largely on location, says real estate servic...
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• 23-Unit San Diego Apartment Property Sells for $79k/Unit
2/02/10
In a recent San Diego-area multifamily buy, Crown Acquisitions has acquired the Las Brisas Apartments, a 23-unit complex located at 811-831 South 47th St, just north of Logan Ave and east of I-805. The property sold for $1.81...
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• 90-Unit Irvine Workforce Housing Project Set to Open in February
2/01/10
The Arbor at Woodbury Apartment Homes, a new workforce housing development in Irvine, is slated to open to the public on February 11, 2010. Developed by Jamboree Housing Corporation and designed by KTGY Group Inc, The Arbor a...
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• Capstone Advisors Picks Up 101 Entitled Res Lots in Riverside County
1/29/10
Capstone Advisors closed out 2009 with the purchase of 101 entitled residential lots in the Riverside County city of Wildomar. The 41-acre, REO property is known as “Rancho Fortunado Estates” and is located at the southwester...
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• 34-Unit Valley Village Multifamily Property Sells for $3.9 Mil
1/27/10
A 34-unit apartment community located at 5629-5635 Laurel Canyon Blvd, in the Valley Village area of the San Fernando Valley, sold for $3.875 mil, or about $114k/unit. Assumable first and second trust deeds with PNC Multifami...
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• Hollywood Multifamily Property Sells for $5.5 Mil
1/26/10
A 36-unit apartment complex in Hollywood traded hands in a recent investment deal worth $5.475 mil ($152k/unit). The five-story property, Orange Towers Apartments, is located at 1757 North Orange Dr, north of Hollywood Blvd a...
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• Pair of Sacramento-Area Multifamily Assets for Close to $10 Mil
1/21/10
Here’s an update on a couple of recent NoCal multifamily investment deals in and around the Sacramento area, in Placerville and Rocklin. In the larger of the two, a California limited partnership out of Arcadia paid $5.8 mil...
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• Two SoCal Apartment Sales Total Up to $14 Mil
1/20/10
Windsong Villas, a 67-unit apartment complex in Escondido, sold for $7.7 mil ($114.9k/unit). The property is located at 1202-1214 North Broadway, east of I-15 and north of Lincoln Pkwy in San Diego.
Steve Huffman and Allen ...
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• SRG to Develop New Huntington Beach Retail/Multifamily Project
1/19/10
Here’s the scoop on plans for an interesting OC project from SARES•REGIS Group (SRG). The company has reached an agreement to lease and redevelop a former furniture showroom site in the city of Huntington Beach. The tentativ...
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• NoHo Apartment Complex Trades for $200k/Unit in 1031 Exchange Buy
1/14/10
A 32-unit apartment complex in North Hollywood traded hands in a recent 1031 exchange transaction for $6.41 mil, or roughly $200k/unit. The property, “Terraces at Toluca”, was built in 1987 and is located at 10834 Blix St, no...
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• Salem, OR Multifamily Property Sells for Over $10 Mil
1/13/10
Orchard Park, a 224-unit, 210.8k sf Section 42 Low Income Housing Tax Credit (LIHTC) property in Salem, OR, recently traded hands in a $10.29 mil ($45.9k/unit) transaction. The property is located at 4100 Kacey Circle Northea...
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• San Bernardino Apartment Complex Sells for over $21 Mil
1/12/10
Broadstone Serrano, a 254-unit apartment community in San Bernardino, sold for $21.25 mil ($83.7k/unit) in a recent acquisition. The low-density (14.3 units/acre), garden-style property is located at 1930 College Ave, north o...
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• SoCal Multifamily Comps
1/11/10
MISSION VIEJO (Orange County) -- VinCal Senior Housing, a joint venture between Vintage Senior Housing and CalSTRS, purchased Paragon Gardens Assisted Living and Memory Care for $15.25 mil. Located at 27783 Center Dr, east of...
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• 175-Unit WA Multifamily Asset Sells for Close to $11 Mil
1/07/10
Summerwalk Apartments, a 175-unit garden-style multifamily community in Kent, WA, was acquired by a group of individuals based in the Northwest in a transaction valued at $10.85 mil, or $62k/unit. The property is located at 2...
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• San Diego-Area Multifamily Comps
1/06/10
Here’s a quick look at three recent San Diego-area multifamily sales. Together, the transactions account for 111 units and roughly $10 mil in deal volume.
In the most recent sale, a Nevada City, CA-based investor paid $4.5 m...
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• 200-Unit Phoenix Apartment Property Sells for $10.9k/Unit
12/30/09
Camelback Vista, a 201-unit apartment community in Phoenix, was acquired by an El Paso, TX-based investor for $2.2 mil ($10.9k/unit) in a recent REO sale. The property is located at 2930 West Camelback Rd, a few blocks west o...
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