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Construction Underway on Affordable Housing Development in Big Bear Lake 8/05/10 Construction is underway on a new a 42-unit affordable housing community within the city of Big Bear Lake. Called The Crossings at Big Bear Lake, the project is being developed by Urban Housing Communities LLC (UHC) in collab...
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NoCal Apartment Community Lands $17.7 Mil in Refi Money 8/04/10 Walker & Dunlop provided a $17.66 in refi money on Crossbrook Apartments, a 226-unit garden-style apartment community in Rohnert Park. Built in 1986, the property is located at 655 Enterprise Dr, just off Hwy 101 in Sonoma Co...
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Colorado Buyer Spends $20 Mil on AZ Multifamily Property 8/03/10 A 220-unit Arizona apartment community traded hands in a recent transaction valued at $20 mil ($90.9k/unit). The property, Sonoma Landing, is located at 4776 East Guadalupe Rd, south of Hwy 60 and just west of Power Rd in the...
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Pieces Coming Together After Mosaic Ground Breaking Event 8/02/10 Mosaic, a new mixed-use workforce housing development in Los Angeles, recently broke ground with a public ceremony attended by Los Angeles City Councilman Ed P. Reyes along with a number of execs from the project developer, A...
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Local Investor Spends $7.6 Mil on North Hollywood Multifamily Asset 7/30/10 Provence Way Apartments, an 88-unit multifamily complex in North Hollywood, was purchased by a Los Angeles-based private investor for $7.6 mil ($86/unit). The property is situated on over two acres of park-like grounds at 610...
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Yakima, WA Seniors Apartment Complex Sells for $10.6 Mil 7/29/10 Englewood Garden, a 256-unit apartment complex located at 3601 Fairbanks Ave in Yakima, WA, recently sold for $10.625 mil or $41.5k/unit. The transaction had a cap rate of 7.75%, with the seller receiving a 55% LTV Fannie Mae...
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Casden’s Latest SoCal Apartment Community Set to Open Its Doors 7/28/10 Empire Landing, a new 276-unit luxury apartment development in the heart of Burbank’s entertainment and media district, is set to open to the public on August 1. The craftsman-styled project, situated on seven acres at the co...
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Phoenix Realty Group Purchases 424 Units in the Inland Empire 7/27/10 Phoenix Realty Group (PRG) recently acquired 424 apartment units in the Inland Empire in two transactions totaling over $30 mil. The properties were purchased on behalf of its institutional real estate fund targeting workforc...
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La Habra Apartment Property Sells for Over $8.5 Mil 7/26/10 North Pointe, a 61-unit apartment complex in La Habra, was purchased by a local investor for $8.59 mil ($140.8k/unit). Located at 1001 North Harbor Blvd, just north of Whittier Blvd, the property was sold by a personal trust ...
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SoCal Condos Sell Fast at Kennedy Wilson Auctions 7/23/10 Kennedy Wilson has sold all 18 condominiums at Silver Spur Court in Rolling Hills Estates for $13 mil at an auction it conducted at the Manhattan Beach Marriott. The company also sold nine condominiums at Vista Del Arroyo in ...
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Seattle-Area Apartment Community Sells for $96k/Unit 7/22/10 Vancouver, WA-based Holland Partners paid $18.25 mil for Westhaven, a 190-unit ($96k/unit) multifamily complex in the West Seattle neighborhood of Seattle. The property was sold by W&W Westhaven Associates.
Westhaven’s desi...
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Security Properties Closes $22 Mil Apartment Buy in Downtown San Diego 7/21/10 Security Properties Inc. paid $22 mil for Entrada, a 172-unit apartment property located at 453 13th St in downtown San Diego’s East Village area. The multifamily transaction is the first apartment sale of 100 units or more i...
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Acacia Capital Spends Over $33 Mil on Livermore Multifamily Property 7/20/10 Ironwood Apartments, a 184k sf, 240-unit apartment complex in Livermore, was acquired by Acacia Capital Corp, a San Mateo-based real estate investment fund manager, for $33.25 mil ($138.5k/unit). Built in 1973, Ironwood Apar...
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NoCal Multifamily Briefs 7/19/10 SAN JOSE – A nine-unit building at 529 Tenth St sold for $1.55 mil ($172k/unit). The property is comprised of two two-bed/two-bath units and seven three-bed/two-bath units. Justin Bautista and Chris Shaheen with Cassidy Turle...
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Canoga Park Apartment Property Fetches $107k/Unit 7/15/10 Here’s the scoop on two recent San Fernando Valley apartment comps. We'll start in Canoga Park, where a 14-unit apartment building sold for $1.5 mil ($107k/unit). The two-story building is located at 7230 Independence Ave, ju...
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New Upscale Santa Monica Res Project Lands $6.4 Mil in Construction Financing 7/13/10 Thousand Oaks-based Griess & Associates has arranged $6.35 mil in construction financing for a nine-unit luxury condo project at 125 Pacific St in Santa Monica. The project is located just one block from the beach and within ...
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Redmond, WA Apartment Complex Trades for $18.5 Mil 7/12/10 Eagle Rim, a 156-unit apartment community in Redmond, WA, was acquired by a Palo Alto-based investor for $18.55 mil ($119k/unit). The property is located at 17325 NE 85th Place, north of Redmond Way and about 16 miles northea...
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San Diego-Area Apartment Comps 7/09/10 We’ve got three recent multifamily acquisitions from San Diego County to report. We’ll start in the city, where North Park Terrace, a 22-unit apartment complex located at 3939 Idaho St, sold for $2.5 mil ($113.6k/unit). It tr...
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NoCal Multifamily Property Sells for $16 Mil 7/08/10 The Oak Grove Apartments, an 88-unit, 75.7k sf luxury apartment complex in Novato, was acquired for $16 mil ($182.4k/unit) in a recent transaction. Situated in a hillside adjacent to a greenbelt, the property is located at 10...
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164-Unit San Dimas Multifamily Community Listed for Sale 7/07/10 FountainGlen at Sunnyside Apartments, a 164-unit garden-style apartment community in San Dimas has been listed for sale. Located at 251 South Walnut Ave, east of the 57 Fwy and north of Arrow Hwy, the asset has an asking pric...
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