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• Pro Moves
12/03/07
Michael P. Bissell, a veteran real estate executive, has been named President of Sares*Regis Group’s Multifamily Property Management Division. Bissell will succeed James V. Thomas, who is retiring at the end of this year afte...
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• CA Sales Down 40%; Median Price Drops 9.9% from Prior Year
11/30/07
Not that this comes as a surprise to many people, but home sales and median price figures from California continue to drop. According to the October data from the California Association of Realtors®, sales declined 40.2 perce...
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• NY Investor Moves into the Hollywood Hills
11/30/07
An 80-unit apartment community situated at the edge of the Hollywood Hills was acquired by a New York investor for $21.7 mil ($271k/unit). The asset, The Tower at Hollywood Hills, is located at 1800 Normandie Ave, between Hol...
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• Senior Housing Project in the San Fernando Valley Breaks Ground
11/29/07
Los Angeles City Councilmember Richard Alarcon joined with other city officials and Meta Housing Corporation for the groundbreaking on a new affordable senior apartment community in the San Fernando Valley community of Panora...
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• Bascom Closes $15 Mil Colorado Acquisition
11/28/07
The Bascom Group, out of Irvine, purchased Lowry Village, a 450-unit complex located at 9913 East 1st Ave in Aurora, CO, for $15 mil ($33.3k/unit). It was sold by Timberleaf Apartments LLC - Maxx Properties of Mamaroneck, NY....
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• Developers of New 400-Unit Project Serenade Oxnard Renters
11/27/07
Construction of a new upscale apartment community in Oxnard is well underway, with a number of the units currently being made available to prospective tenants. The 400-unit project, Serenade at RiverPark, situated in the hear...
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• San Francisco Apartment Market Looks Solid
11/26/07
The outlook for apartment investment in San Francisco remains strong for the remainder of this year and throughout 2008, due in great part to tight conditions and elevated housing costs. According to a third-quarter Apartment...
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• CA Foreclosures Jump 221% in October
11/21/07
Foreclosures in California are up 221% in October, compared to the prior year, according to the latest figures from Default Research. San Diego County led the state with 3,427 foreclosure filings in October, up 400 percent fr...
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• Santa Monica Apartment Property Listed for $491k/Unit
11/21/07
Anybody out there looking for a nice ocean-front apartment in Santa Monica? We suggest you consider buying the entire building, and we have just the property for you -- Delta Sands, a 28-unit multifamily property located at 9...
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• Kennedy-Wilson Collects $147 Mil from Recent Sales
11/20/07
Beverly Hills-based Kennedy Wilson Management Group (KW Multifamily) has gotten a head start on spring cleaning for next year, having recently sold four major California apartment communities in transactions that totaled $147...
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• How Have Rents Been Affected by the Mortgage Crisis?
11/19/07
By Caroline S. Latham
CEO, RealFacts
A question many people are asking as they follow the latest news is what effect the current mortgage problems are having on apartment rents. Lenders of residential mortgages, such as Coun...
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• 130-Unit Torrance Community Offered for $27 Mil
11/16/07
Here’s a listing in LA’s South Bay region that you might be interested in, as Gregory Harris and Ronald Harris of Marcus & Millichap are marketing the Palermo Apartments, a 130-unit community located at 4315 West 182nd St in ...
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• Quarterpenny Picks Up 270-Unit Tucson Complex
11/15/07
Tucson-based Quarterpenny Company has purchased Tamarack, a 270-unit apartment community located at 1111 West St. Mary's Rd in Tucson, for $10.5 mil ($38.9k/unit). Built in 1985, Tamarack is an interior gated-community compri...
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• Thousand Oaks Apartment Complex Trades for $300k/Unit
11/14/07
Pavilion Apartments, a 142-unit multifamily community located at 550 North Laurie Lane, just west of Moorpark Rd and north of Hillcrest Dr in the city of Thousand Oaks, sold for $42.575 mil ($299.8k/unit). The complex is situ...
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• Johnson Capital Arranges $11.6 Mil Refi on 128-Unit Bakersfield Complex
11/13/07
Johnson Capital arranged $11.6 mil of floating rate financing for the refinance of the Villa Sienna Apartments, a 128-unit complex located in Bakersfield. The property was acquired in 2005 by Irvine-based The Bascom Group, wh...
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• Phoenix Buyer Spends $21 Mil for University Education
11/12/07
A four-property, 268-unit apartment portfolio in Tempe, AZ was acquired by a Phoenix investor for $21.4 mil ($79.9k/unit). The assets, known as the University Properties are: University Place; University Pointe; University Sq...
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• New San Jose Res Tower is Part of Axis of Good Living
11/12/07
Development of Axis, a new 22-story luxury residential tower neighboring the historic Hotel De Anza in San Jose, is moving forward. The Silicon Valley project is about to unveil its presentation center and model homes, and wi...
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• $86 Mil LA Apartment Sale has Hollywood Ending
11/09/07
A large apartment complex at the foot of the Hollywood hills recently traded hands in a transaction with price tag of $289.4k/unit. The property, Seravella Apartments, is a 298-unit asset located at 1710 North Fuller St, at t...
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• Majority of Apartment Renters don’t Carry Renters Insurance
11/07/07
Car owners know that they must have insurance to drive and homeowners know to carry coverage to protect their possessions, however, according to a recent Apartments.com survey of current renters, fifty-eight percent of respon...
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• Investor Pays $244k/Unit for Glendale Apartment Property
11/06/07
A Santa Clara-based investment group has purchased Casa Vaquero, a 67-unit apartment community located at 1630 Calle Vaquero in Glendale, for $16.35 mil ($244k/unit). The property was sold by DMC Investment Group Inc of Los A...
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