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New Rancho Cucamonga Mixed-Income Housing Project Underway 4/14/09 Construction on a new, 166-unit workforce housing project in the Inland Empire is well underway. Called Villagio at Route 66, the project is being developed by Workforce Homebuilders LLC of Rancho Cucamonga, in a partnership ...
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CBRE Arranges Financing for 52-Unit El Cajon Apartment Property 4/13/09 CBRE Debt and Equity Financing arranged the placement of a $2.05 mil permanent financing loan on Broadway II, a 52-unit, 38.6k sf apartment complex at 849 North 3rd St, south of Broadway and northwest of I-8 in El Cajon. The...
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NoCal Multifamily Deal Briefs 4/10/09 BURLINGAME (San Mateo County) -- Pacific Investments and Holding Company, LLC paid about $4.49 mil for the Royal Grove Apartments, an 18-unit ($249k/unit) complex at 1477 Grove Ave. The property mix consists of all large one ...
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NorthMarq Capital Arranges $150 Mil on Three SoCal Apartment Properties 4/09/09 Michael Elmore, out of the Los Angeles office of NorthMarq Capital, recently closed two financings totaling just under $150 mil on three SoCal multifamily properties, in downtown Los Angeles, Simi Valley and Woodland Hills.
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SoCal Apartment Rents on the Decline 4/08/09 Falling apartment rents across Southern California reflect the current recession as unemployed tenants move away or double up with friends or family while the affordability of foreclosed homes turns some renters into buyers. ...
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New Program from C.A.R. to Help Drive More First-Time Buyers 4/08/09 In an effort to assist first-time home buyers, the California Association of Realtors® (C.A.R.) has launched the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F. MPP). Through this program, first-ti...
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HFF Finds Fairway to Arrange $22 Mil for Inland Empire Complex 4/07/09 HFF (Holliday Fenoglio Fowler L.P.) has secured $22.1 mil in refi money through Freddie Mac for Fairway Palms Apartments, a 236-unit multifamily community in Rancho Cucamonga. Fairway Palms Apartments is located at 11201 5th ...
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Johnson Cap Arranges $16 Mil on Westminster Apartment Property 4/06/09 We’ve got a couple of recent SoCal financings to share with you, one in Westminster and the other in Los Angeles. In Westminster, Johnson Capital arranged $16 mil in permanent financing for the Huntington Westminster Apartmen...
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Sycamore Urban Hopes to De-Stress Distressed Condo Properties 4/03/09 Sycamore Urban Properties, an Irvine-based firm, thinks that now is the time to acquire and stabilize new and converted condominium properties that have fallen into distress since the housing bubble burst. The company recentl...
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San Diego Apartment Market May Be Nearing Bottom 4/02/09 After three years of dramatic declines in sales volume, the San Diego County apartment market may be showing early signs of stabilizing. At least that’s what a just released report from Cushman & Wakefield shows. According t...
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Western National Lands Leasing/Management Assignment for New Inland Empire Project 4/01/09 Hutton Development Company has awarded the leasing and management responsibilities for its new luxury apartment community, College Park Apartment Homes, to Western National Property Management. College Park is a 448-unit, 40...
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Aquatera is Swimming in Amenities and Eco-Friendly Features 3/30/09 The finishing touches are being applied to a new apartment community in San Diego’s Mission Valley area. Called Aquatera, the 254-unit development combines edgy and lavish amenities along with numerous eco-friendly features. ...
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New Luxury Anaheim Apartment Complex is Completed 3/27/09 A new, resort-style luxury apartment development in Anaheim has just opened to the public. The 265-unit project -- 1818 Platinum Triangle -- is located in the heart of Platinum Triangle, an 820-acre mixed-use development surr...
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CA Home Sales Jump 83% in February 3/26/09 In the latest data from the California Association of Realtors®, home sales in the state increased 83 percent in February compared with the same period a year ago, while the median price of an existing home declined 40.8 perc...
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The Rise in Mid-Rise Apartments 3/25/09 Here’s an interesting look at a current trend in rental rates at the majority of the most recent apartment development projects. This analysis was provided to us by Realfacts, the well-regarded, Novato-based apartment data sp...
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Adobe Communities Acquires Vacant Pasadena Apartment Building for Senior Housing 3/23/09 Abode Communities has acquired a 33.7k sf apartment building located on 42.8k sf of land at 1267 North Hudson Ave, a block west of Lake Ave in Pasadena, for $4.5 mil. The non-profit developer, also known as Hudson Oaks Limit...
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SoCal Sees Drop in Notices of Defaults and Trustee Sales While NoCal on the Rise 3/20/09 By Allen Wolfsheimer
Notice of Defaults and Notice of Trustee Sales recorded in Southern California dropped 3.54 percent from February 2008 to February 2009, however, in Northern California the number spiked upward, increasi...
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San Diego Apartment Tenants Can Count on SatisFacts-tion from H.G. Fenton 3/19/09 For the seventh year in a row, H.G. Fenton Company has been recognized for its commitment to resident satisfaction at its San Diego County apartment homes. The company received top national honors from SatisFacts LLC, a resid...
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30-Unit Fremont Apartment Fetches Nearly $5 Mil 3/18/09 A 30-unit luxury apartment complex in Fremont was acquired for $4.8 mil ($160k/unit). The property is located at 35955 Fremont Blvd, east of I-880 in the East Bay city of Fremont. Michael Henshaw of CB Richard Ellis and Micha...
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Lose Your Job, Get Out of Your Apartment Lease 3/17/09 Western National Property Management has introduced a novel new benefit they are now offering to renters. Called the Layoff Protection Program, it will allow residents who have lost their job to cancel their rental contracts ...
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