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• New LA Affordable Housing Project Set to Open
2/20/09
Villas del Lago, a new 74-unit affordable apartment development in the Westlake/MacArthur Park district of Los Angeles is set to open later this month. The project, located at 456-478 S. Lake St, is a development of AMCAL Mul...
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• CA Entry-Level Home Affordability Jumps to 59%
2/19/09
The percentage of households that could afford to buy an entry-level home in California stood at 59 percent in the fourth quarter of 2008, compared with 33 percent for the same period a year ago, according to the latest data ...
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• Apartment Building Near UCLA Sells for $409k/Unit
2/18/09
An eight-unit multifamily property near UCLA recently traded hands in a deal worth over $409k per unit. The property, Brockton Apartments, is located at 1251 Brockton Ave, east of Bundy Dr and a few doors south of Wilshire Bl...
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• Astani Hopes First Concerto is a Sell-Out
2/17/09
Construction on the first phase of Concerto, Astani Enterprise’s three-building, $224 mil mixed-use condo project in downtown LA, is underway. This phase will contain 348 units, split between a 30-story tower and a smaller se...
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• The Realfacts About the Apartment Market Show Rent Declines in Nearly Ever MSA
2/13/09
Renters looking for an apartment at the beginning of 2009 will have more choices and should be able to get a better value for their rent money. That’s the general opinion from a fourth quarter 2008 study of nationwide rents j...
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• Unique Santa Monica Res Project Filling Up Fast
2/12/09
An unusual new residential project in Santa Monica has provided students, retirees and other individuals with a limited income an opportunity to rent a new living space in this pricey Westside community. The project, a develo...
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• Valley Apartment Property Sells for $5.2 Mil
2/11/09
A 53-unit apartment complex in Valley Glen, an area in the eastern part of the San Fernando Valley that was previously considered to be Van Nuys, sold for $5.2 mil, or about $98.1k/unit. The property is located at 6125 Fulton...
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• Investors Close Out 2008 with Pac Northwest Multifamily Buys
2/09/09
For those of you who like to keep up on multifamily investment transactions from the Pacific Northwest part of the country, here are comps on three year-end 2008 deals from Washington and Oregon.
We’ll start in Klamath Falls...
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• Two San Diego Area Apartment Properties Each Sell for $4.5 Mil
2/03/09
A 14-unit Carlsbad apartment property traded hands in a recent $4.5 mil ($321.4k/unit) transaction. The property, Pirineos Pointe Luxury Townhomes, is located at 2610-2622 Pirineos Way, north of La Costa Ave and east of El Ca...
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• Seniors Housing Portfolio Trades for $364 Mil
2/02/09
A large real estate portfolio consisting of 3,554 residential units in 45 senior housing communities was acquired by private equity firm for $364 mil ($102.4k/unit). Located in Alabama, Arizona, California, Colorado, North Ca...
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• G.W. Williams Closes $39 Mil Recapitalization of NoCal Multifamily Assets
1/30/09
In a notable NoCal multifamily financing deal, San Mateo-based G.W. Williams Co recapitalized a four-property, 600-unit portfolio in the Sacramento and Silicon Valley regions. The $39 mil transaction was actually a fixed-rat...
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• Sluggish Tech Sector to Slow San Jose Apartment Market
1/29/09
In the coming year, San Jose’s apartment market is expected to be impacted by the continued turmoil in the financial markets and by a tough employment market faced with a sluggish technology sector, according to the 2009 Nati...
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• ARCS Keeps Sacramento Apartment Market Afloat with Financing on Pair of Properties Totaling 160 Units
1/28/09
To give you a better sense of the kind of apartment financing deals getting done in California’s state capitol, here’s some info on a couple of loans arranged by PNC ARCS for a combined total of $5.82 mil on the Ridgestone Ap...
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• New Team Hopes to Score by Going Long on Housing
1/27/09
Well known contrarian investor Highridge Partners and veteran housing development group West Coast Housing Partners are returning to the residential market with a first wave of $500 mil in capital targeting failed housing sub...
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• 40-Unit NoHo Apartment Property Trades for $7.7 Mil
1/27/09
A 40-unit, 1980s-era apartment property in North Hollywood was purchased for $7.7 mil ($102.5k/unit). The non-rent control property, Otsego Villas, is located at 11109 Otsego St in the area’s NoHo Arts District and offers the...
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• Santa Clara Apartment Property Sells for $162k/Unit
1/26/09
In a recent example of a Silicon Valley apartment sale, a 16-unit luxury apartment complex in Santa Clara sold for $2.6 mil ($162.5k/unit). The property, Saratoga Square, is located at 565 Saratoga Ave and consists of 14 one-...
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• Los Angeles Apartment Market Expected to See Rent Gains in 2009
1/22/09
The Los Angeles apartment market is expected to remain one of the nation’s top performers in 2009, though a softer local economy will result in rising vacancies, according to the 2009 National Apartment Report by national inv...
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• Marcus & Millichap Handles Fair Share of LA Apartment Sales
1/21/09
Marcus & Millichap, one of the largest investment brokerage firms in the country, is regularly involved in a large number of multifamily property sales throughout the US and particularly in Southern California. To give you a ...
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• Phoenix Apartment Market in State of Flux
1/20/09
The Phoenix apartment market is expected to remain in a state of transition in 2009 due to a considerable supply/demand imbalance. That’s the outlook according to the 2009 National Apartment Report from Marcus & Millichap, th...
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• Yardi Systems Achieves a Milestone
1/16/09
Milestone Management LP, a privately owned residential property management and investment company based out of Dallas, has selected Yardi Systems’ Voyager residential management software to manage its multifamily communities ...
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