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• Two LA Firms Involved in $113 Mil Texas Multifamily Portfolio Buy
4/06/10
Two Los Angeles-area real estate firms were involved in a major multifamily transaction, as CIM Group has acquired four Class A apartment communities in Texas in a deal worth $113 mil. The transaction was arranged by Multi-Ho...
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• Monrovia’s Old Town Gets New Mixed-Use Res Community
4/02/10
Paragon at Old Town, a new mixed-use apartment community in Monrovia’s historic Old Town district, just opened its doors. Developed by Urban Housing Group, Paragon at Old Town provides amenity-rich living within walking-dista...
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• San Fernando Valley Apartment Property Sells for $3.75 Mil
3/30/10
A 16-unit condominium complex in Panorama City currently being operated as an apartment complex sold for $3.75 mil ($234.4k/unit). The property is located at 9201 Tobias Ave, north of Nordhoff St and a block west of Van Nuys ...
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• Investor Pays $385k/Unit for West Los Angeles Multifamily Property
3/29/10
An eight-unit apartment building in the Brentwood area of West Los Angeles was acquired by a private investor for $3.08 mil, or roughly $385k/unit. The property is located at 326 Gretna Green Way, south of Sunset Blvd and a b...
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• Nagarkatti Promoted to President at AMCAL
3/26/10
Arjun Nagarkatti has been promoted to President at AMCAL Multi-Housing Inc, the SoCal-based builder of affordable and low-income housing. In his new role, Nagarkatti will oversee the management of all AMCAL departments, as we...
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• Pac Northwest Investor Closes $27 Mil AZ Apartment Buy
3/25/10
The seller was 109th Avenue and Olive LLC, an Arizona limited liability company of Tempe, AZ. The Buyer was Weidner Investment Services Inc. Mark Forrester and Ric Holway of Hendricks & Partners were involved in brokering the...
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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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