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• Pair of $25 Mil West LA Multifamily Listings Hit the Market
1/13/09
Financing for real estate acquisitions may be a major challenge these days, but there continues to be substantial investment opportunities for those buyers who can find ways to come up with the purchase money. For example, we...
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• Healthy Outlook for San Francisco Apartment Market
1/12/09
The outlook for the San Francisco apartment market in 2009 is expected to remain relatively healthy, though the threat of payroll contraction in response to the upheaval in the financial markets bears monitoring. At least tha...
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• Notice of Defaults and Notices of Trustee Sales in CA Jumped 131% in 2008
1/08/09
According to the latest data from Default Research, Notice of Defaults and Notices of Trustee Sales in both halves of California rose 131 percent last year. In Los Angeles County alone, 122,408 unique properties entered into ...
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• Upscale San Diego Multifamily Asset Fetches $410k/Unit
1/07/09
Conrad Prebys Trust, out of San Diego, paid $10.25 mil ($410k/unit) for Trilogy on 5th, a bank-owned, 25-unit multifamily community situated adjacent to Balboa Park in San Diego. Built in 2008, the upscale apartment complex ...
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• Vallejo Apartment Community Trades for $54 Mil
1/06/09
A San Francisco-based private investment group recently paid $54.4 mil for Blue Rock Village, a 560-unit ($97.1k/unit) multifamily community in the NoCal city of Vallejo, about 30 miles northeast of San Francisco. Located at ...
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• CA Home Sales Up 83% in November
1/05/09
Home sales in California saw a jump of 83.2 percent in November compared with the same period a year ago, while the median price of an existing home fell (brace yourself…) 41.8 percent, according to the most recent data from ...
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• Colorado Apartment Complex Sells in $15 Mil Deal
1/05/09
A 268-unit apartment complex in Aurora, CO traded hands in a $15.1 mil sale that values the property at about $56.3k/unit. The asset, Turnberry at Heather Ridge, is located at 2038 South Vaughn Way, south of I-70 between I-25...
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• Essex Trust Closes $20 Mil El Cajon Apartment Sale
12/31/08
Essex Property Trust closed on a $19.75 mil sale of Coral Gardens, a 200-unit ($98.8k/unit) apartment complex in El Cajon. The property is located at 425 East Bradley Ave, north of I-8 and east of the Hwy 67. It is comprised ...
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• Advanced Real Estate Services Acquires The Courtyards from Kennedy Wilson
12/30/08
The Courtyards, a 153-unit apartment community at 12401 Studebaker Rd, east of the 605 Fwy and south of Firestone Blvd in Norwalk, was acquired in a $21.9 mil ($143k/unit) transaction by Advanced Real Estate Services Inc, a t...
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• LA Apartment Owner Wins Density Bonus Case against City of Los Angeles
12/29/08
A recent court ruling favored a property owner/developer in an action against the city of Los Angeles, which had attempted to impose design restrictions on a proposed infill project that would have made it financially impossi...
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• AMCAL Debuts 49-Unit Affordable Development in South LA
12/24/08
Following the successful opening of Temple Villas in Echo Park/Beaudry, Agoura Hills-based AMCAL Multi-Housing Inc continues its rapid expansion throughout Los Angeles with the opening of Casa de Angeles. Located at 4900 S. ...
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• Riverside Multifamily Property Offered at Just Under $13 Mil
12/23/08
A notable multifamily investment opportunity in the city of Riverside just hit the market, with an asking price of $12.95 mil ($90k/unit). The property is Emerald Pointe Apartments, a 144-unit asset located at 1863 12th St, a...
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• Turbulent Year Winds Down for CA Home Market
12/22/08
Rising home sales, declining home prices, stricter loan underwriting standards, and the financial market meltdown contributed to a turbulent year in California’s housing market, according to the California Association of Real...
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• $18 Mil Sale Includes Majority of Units at Chula Vista Condo Project
12/19/08
In a rather unusual sale in Chula Vista, an investor picked up the majority, but not all, of the units at Terra Vista at Otay Ranch, a 168-unit condo complex located at 1441 Santa Lucia Rd, south of Otay Lakes Rd and east of ...
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• Johnson Capital Arranges $16 Mil Refi on Gresham, OR Apartment Complex
12/18/08
In a recent Portland-area apartment financing transaction, Jim Pierson and Keaton Merrell of Johnson Capital arranged $16 mil in long-term, fixed-rate financing for the refi and partner buyout of Heatherwood Apartments, a 264...
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• 246-Unit Tucson Apartment Property Trades in $18 Mil Deal
12/18/08
Skyline Gateway, a 246-unit apartment community in Tucson, traded hands in a recent $18.4 mil ($74.8k/unit) transaction. The property is located at 4601 East Skyline Dr, west of Swan Rd and north of Sunrise Dr.
Constructed i...
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• NorthMarq Arranges $50 Mil in 1st TD Money on 390-Unit Sunnyvale Asset
12/17/08
Looking for financing for NoCal multifamily acquisitions? You might want to check out these three recent deals to get a sense for what kinds of transactions are getting funded. We’ll start in Sunnyvale, where NorthMarq Capita...
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• Investor Spends $2.8 Mil on Redwood City Apartment Property
12/16/08
A 24-unit apartment property in Redwood City sold in a recent $2.82 mil ($117.5k/unit) transaction. The property, located at 701 9th Ave, between El Camino Real and the 101 Fwy, is comprised of eight two-bedroom/one-bath unit...
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• SD 3rd Qtr Apartment Transactions Up; Units Sold Down
12/15/08
The number of San Diego County apartment sales transactions in the third quarter of 2008 was up 27.6 percent over the same quarter in 2007, according to a just released Cushman & Wakefield report. This was the first year-over...
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• Fremont Apartment Property Sells for $21.5 Mil
12/12/08
A 151-unit multifamily property in Fremont was acquired by a Santa Clara investment entity for $21.55 mil, or roughly $142.7k/unit. The property, Carrington Apartments, is located at 4875 Mowry Ave, east of the I-880. Origina...
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