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• Marcus & Millichap Handles Trio of SoCal Apartment Sales
3/13/09
In Artesia, a 29-unit multifamily property called East Park Apartments sold for $3.8 mil ($131k/unit). Located at 11562 186th St, near the Cerritos Mall in southeastern LA County, the property was marketed as a value-add oppo...
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• San Diego-Based Trigild Closes Four Receivership Assignments
3/05/09
San Diego-based Trigild has closed the receivership estates for four condominium complexes, including two properties in Northern Florida, one in Michigan and another in Arizona. The company's receivership team, which include...
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• January CA Home Sales Double, While Prices Continue to Fall
3/03/09
There continues to be a significant dichotomy in California’s housing market, as sales jumped a dramatic 100.8 percent in January compared with the same period one year earlier, yet the median price of an existing home fell a...
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• Investors Go For Those 14-Unit Valley Apartment Properties
2/27/09
We have the recent sales of separate 14-unit multifamily properties in the San Fernando Valley to report. In one transaction, a Sherman Oaks apartment complex traded at a price of $2.8 mil, or about $196.4k/unit. The two-buil...
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• East Bay Multifamily Comps
2/26/09
Looking for East Bay apartment comps? We’ve got five recent deals to share with you, all of which were brokered, at least in part, by regional brokerage firm NAI BT Commercial. We’ll start in Oakland, where investors paid $1....
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• Local Firm Looking to Pick Up Lion’s Share of LA’s Distressed Multifamily Properties
2/25/09
Lion Real Estate Group (LREG) just closed an all-cash acquisition of two loans on a 26-unit multi-family property at 920 N. Wilcox in Hollywood. In the off-market deal, Lion paid $4.02 mil for both the senior and junior loa...
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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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